Carvana Co. $CVNA Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC raised its position in Carvana Co. (NYSE:CVNA) by 213.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,494 shares of the company’s stock after buying an additional 4,422 shares during the period. Corient Private Wealth LLC’s holdings in Carvana were worth $2,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVNA. Warren Street Wealth Advisors LLC increased its position in shares of Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after purchasing an additional 31 shares in the last quarter. MAI Capital Management grew its holdings in shares of Carvana by 1.8% during the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock worth $592,000 after buying an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after buying an additional 31 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of Carvana by 1.2% in the second quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company’s stock valued at $1,554,000 after buying an additional 53 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Carvana by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Argus began coverage on Carvana in a report on Monday, December 15th. They issued a “buy” rating and a $500.00 price target for the company. Morgan Stanley set a $450.00 price objective on Carvana in a research note on Monday, October 20th. Finally, DA Davidson set a $360.00 target price on Carvana in a research note on Thursday, October 30th. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average target price of $446.32.

Carvana Price Performance

NYSE:CVNA opened at $437.41 on Wednesday. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $485.33. The stock’s fifty day moving average is $367.08 and its two-hundred day moving average is $356.97. The company has a market capitalization of $95.16 billion, a P/E ratio of 99.87, a P/E/G ratio of 1.41 and a beta of 3.51. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. Equities analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, Director Michael E. Maroone sold 30,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the sale, the director owned 143,573 shares of the company’s stock, valued at $57,478,014.82. The trade was a 17.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Gill sold 40,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.24, for a total value of $19,009,600.00. Following the transaction, the insider directly owned 191,106 shares in the company, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 564,332 shares of company stock valued at $228,630,102. 16.36% of the stock is currently owned by company insiders.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.