Independent Advisor Alliance Takes Position in Carvana Co. (NYSE:CVNA)

Independent Advisor Alliance bought a new position in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, HoldingsChannel reports. The firm bought 1,507 shares of the company’s stock, valued at approximately $306,000.

Other hedge funds also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. acquired a new stake in Carvana in the third quarter worth about $50,531,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after acquiring an additional 39,089 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after acquiring an additional 2,994 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Carvana by 37.7% during the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after purchasing an additional 130,942 shares during the last quarter. Finally, Oak Thistle LLC lifted its position in Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Down 10.6 %

Shares of CVNA opened at $166.65 on Wednesday. The stock has a 50 day moving average price of $228.25 and a 200 day moving average price of $214.65. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market capitalization of $35.52 billion, a price-to-earnings ratio of 106.14 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVNA. JPMorgan Chase & Co. boosted their price objective on Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. DA Davidson boosted their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.71.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,784 shares of company stock worth $27,524,344. Insiders own 17.12% of the company’s stock.

Carvana Company Profile

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.