Concurrent Investment Advisors LLC Sells 3,184 Shares of Carvana Co. $CVNA

Concurrent Investment Advisors LLC reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 24.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,024 shares of the company’s stock after selling 3,184 shares during the period. Concurrent Investment Advisors LLC’s holdings in Carvana were worth $3,781,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hilltop National Bank bought a new position in shares of Carvana during the 2nd quarter valued at $25,000. ORG Partners LLC boosted its position in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Carvana in the third quarter worth about $38,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carvana in the 2nd quarter valued at about $38,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carvana in a research note on Monday, December 29th. Bank of America raised their target price on shares of Carvana from $455.00 to $515.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays upped their price target on shares of Carvana from $390.00 to $465.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Argus started coverage on shares of Carvana in a report on Monday, December 15th. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Nineteen 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 a consensus rating of “Moderate Buy” and a consensus price target of $458.18.

Carvana Trading Down 2.0%

Shares of CVNA opened at $459.26 on Thursday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $485.33. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The firm’s 50-day moving average price is $400.36 and its 200-day moving average price is $370.62. The firm has a market capitalization of $99.91 billion, a price-to-earnings ratio of 104.85, a PEG ratio of 1.13 and a beta of 3.54.

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

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $403.02, for a total value of $5,138,505.00. Following the completion of the transaction, the chief financial officer owned 204,036 shares in the company, valued at approximately $82,230,588.72. This represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Taira sold 1,174 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $447.00, for a total value of $524,778.00. Following the transaction, the insider directly owned 68,252 shares of the company’s stock, valued at $30,508,644. This represents a 1.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 467,626 shares of company stock valued at $192,090,109 over the last ninety days. Insiders own 17.12% of the company’s stock.

Carvana Company Profile

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.