Corient Private Wealth LLC Has $1.44 Million Stake in Carvana Co. (NYSE:CVNA)

Corient Private Wealth LLC lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 21.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,093 shares of the company’s stock after selling 1,973 shares during the period. Corient Private Wealth LLC’s holdings in Carvana were worth $1,442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVNA. Quent Capital LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc bought a new position in shares of Carvana in the fourth quarter valued at approximately $42,000. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,784 shares of company stock valued at $27,524,344 in the last three months. Company insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVNA shares. Wedbush set a $250.00 price target on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Evercore ISI decreased their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $263.88.

Carvana Stock Performance

NYSE:CVNA opened at $221.27 on Wednesday. The business’s fifty day moving average is $228.48 and its 200 day moving average is $216.58. The firm has a market cap of $47.17 billion, a price-to-earnings ratio of 140.94 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Carvana 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.