Diversified Portfolios Inc. Acquires 657 Shares of Carvana Co. (NYSE:CVNA)

Diversified Portfolios Inc. boosted its holdings in Carvana Co. (NYSE:CVNA) by 20.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,832 shares of the company’s stock after acquiring an additional 657 shares during the quarter. Diversified Portfolios Inc.’s holdings in Carvana were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVNA. Ridgewood Investments LLC bought a new position in shares of Carvana during the second quarter valued at $32,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana during the 3rd quarter worth about $32,000. Summit Securities Group LLC lifted its holdings in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Carvana in the third quarter valued at about $40,000. Finally, Fifth Third Bancorp raised its stake in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider now directly owns 328,329 shares of the company’s stock, valued at $57,457,575. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,627,249 shares of company stock valued at $468,516,322 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Carvana Trading Up 1.2 %

CVNA traded up $2.99 during mid-day trading on Thursday, hitting $242.97. The stock had a trading volume of 726,778 shares, compared to its average volume of 4,731,368. Carvana Co. has a 1-year low of $29.84 and a 1-year high of $259.39. The firm has a market capitalization of $50.45 billion, a price-to-earnings ratio of 24,031.00 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The stock’s fifty day simple moving average is $188.57 and its 200-day simple moving average is $147.52.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. As a group, research analysts forecast that Carvana Co. will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVNA. JPMorgan Chase & Co. increased their price target on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stephens started coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $217.71.

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.