Carvana Co. $CVNA Shares Sold by Bellwether Advisors LLC

Bellwether Advisors LLC lessened its stake in Carvana Co. (NYSE:CVNA) by 52.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,922 shares of the company’s stock after selling 11,970 shares during the period. Bellwether Advisors LLC’s holdings in Carvana were worth $4,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Carvana by 8,700.0% in 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 in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Carvana during the 3rd quarter valued at about $38,000. Washington Trust Advisors Inc. acquired a new position in Carvana in the 3rd quarter valued at about $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Carvana during the second quarter worth about $38,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Carvana during the second quarter worth about $49,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $510.00 to $490.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Wells Fargo & Company decreased their price target on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Bank of America cut their price objective on Carvana from $460.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Citigroup decreased their target price on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, Argus started coverage on Carvana in a report on Monday, December 15th. They set a “buy” rating and a $500.00 price target on the stock. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $440.59.

Carvana Stock Performance

NYSE:CVNA opened at $318.91 on Wednesday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73. The firm has a market capitalization of $69.79 billion, a PE ratio of 39.67 and a beta of 3.60. The business’s fifty day moving average price is $406.55 and its 200 day moving average price is $381.11.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The business’s revenue for the quarter was up 58.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $393.04, for a total value of $393,040.00. Following the transaction, the vice president directly owned 37,192 shares of the company’s stock, valued at $14,617,943.68. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares of the company’s stock, valued at approximately $90,821,215.44. This trade represents a 17.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 300,673 shares of company stock worth $133,268,531. 16.36% of the stock is owned by 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.