Wedmont Private Capital Purchases Shares of 1,491 Carvana Co. (NYSE:CVNA)

Wedmont Private Capital acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,491 shares of the company’s stock, valued at approximately $307,000.

Several other large investors also recently modified their holdings of the stock. abrdn plc acquired a new stake in Carvana in the fourth quarter worth $294,000. Yousif Capital Management LLC acquired a new stake in shares of Carvana in the 4th quarter valued at about $247,000. Empowered Funds LLC grew its stake in shares of Carvana by 3.6% in the 4th quarter. Empowered Funds LLC now owns 2,936 shares of the company’s stock valued at $597,000 after buying an additional 101 shares during the period. Cigna Investments Inc. New bought a new stake in Carvana in the 4th quarter valued at about $223,000. Finally, Quent Capital LLC acquired a new position in Carvana during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $325.16, for a total transaction of $16,258,000.00. Following the sale, the insider now owns 37,342,317 shares of the company’s stock, valued at approximately $12,142,227,795.72. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 43,433 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $209.27, for a total value of $9,089,223.91. Following the completion of the transaction, the chief financial officer now owns 214,678 shares of the company’s stock, valued at approximately $44,925,665.06. This represents a 16.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,321,046 shares of company stock worth $388,900,133. Insiders own 17.12% of the company’s stock.

Carvana Stock Up 0.4%

Shares of NYSE:CVNA opened at $340.00 on Thursday. The company has a market capitalization of $72.81 billion, a PE ratio of 216.56 and a beta of 3.65. Carvana Co. has a 1 year low of $100.05 and a 1 year high of $351.43. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business has a fifty day moving average price of $267.47 and a two-hundred day moving average price of $240.37.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. Analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of research reports. Wedbush raised Carvana to a “hold” rating in a research note on Thursday, May 8th. DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an “overweight” rating in a report on Thursday, May 22nd. Finally, Citigroup boosted their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.35.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.