Farther Finance Advisors LLC Boosts Position in Carvana Co. $CVNA

Farther Finance Advisors LLC grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,164 shares of the company’s stock after acquiring an additional 1,353 shares during the period. Farther Finance Advisors LLC’s holdings in Carvana were worth $2,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of Carvana during the second quarter worth about $25,000. SJS Investment Consulting Inc. grew its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Carvana during the 2nd quarter valued at approximately $38,000. LRI Investments LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $42,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Carvana in the second quarter worth $49,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Price Performance

CVNA opened at $441.41 on Friday. The firm has a market capitalization of $96.02 billion, a PE ratio of 100.78, a price-to-earnings-growth ratio of 1.44 and a beta of 3.51. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $485.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The business’s 50-day moving average is $370.72 and its two-hundred day moving average is $358.15.

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

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.00, for a total transaction of $9,500,000.00. Following the sale, the chief operating officer directly owned 100,758 shares of the company’s stock, valued at $47,860,050. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 1,527 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $725,325.00. Following the transaction, the insider owned 69,289 shares of the company’s stock, valued at approximately $32,912,275. This represents a 2.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 544,332 shares of company stock worth $221,258,662 in the last three months. Company insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore ISI boosted their target price on Carvana from $420.00 to $425.00 and gave the stock an “in-line” rating in a research report on Tuesday. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $460.00 target price on shares of Carvana in a research report on Thursday, October 30th. Argus initiated coverage on shares of Carvana in a research report on Monday, December 15th. They issued a “buy” rating and a $500.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target 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. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average price target of $446.32.

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.