Envestnet Portfolio Solutions Inc. Purchases 236 Shares of Carvana Co. (NYSE:CVNA)

Envestnet Portfolio Solutions Inc. boosted its position in Carvana Co. (NYSE:CVNA) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,468 shares of the company’s stock after purchasing an additional 236 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Carvana were worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVNA. Fidelis Capital Partners LLC boosted its position in shares of Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares during the period. Bleakley Financial Group LLC boosted its holdings in Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVNA shares. Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Bank of America dropped their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Carvana Price Performance

Carvana stock opened at $204.45 on Friday. The stock has a 50-day moving average price of $227.77 and a two-hundred day moving average price of $216.41. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a market capitalization of $43.58 billion, a PE ratio of 130.22 and a beta of 3.56. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

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

Insider Activity

In other news, insider Thomas Taira sold 27,593 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,377 shares of company stock valued at $44,251,096. Insiders own 17.12% of the company’s stock.

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.