Waldron Private Wealth LLC Increases Stake in Carvana Co. (NYSE:CVNA)

Waldron Private Wealth LLC raised its stake in shares of Carvana Co. (NYSE:CVNA) by 100.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,180 shares of the company’s stock after purchasing an additional 3,094 shares during the quarter. Waldron Private Wealth LLC’s holdings in Carvana were worth $1,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVNA. FMR LLC increased its stake in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. State Street Corp raised its stake in shares of Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after buying an additional 107,610 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after buying an additional 131,059 shares during the period. Whale Rock Capital Management LLC purchased a new stake in shares of Carvana in the third quarter worth about $162,953,000. Finally, Holocene Advisors LP grew its holdings in Carvana by 108.2% during the third quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after acquiring an additional 287,983 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 1.6 %

Shares of CVNA stock opened at $247.76 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $40.21 and a twelve month high of $268.34. The company’s 50-day moving average price is $230.58 and its 200-day moving average price is $193.93. The stock has a market cap of $51.44 billion, a price-to-earnings ratio of 24,800.30 and a beta of 3.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the company earned $0.23 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, equities analysts predict that Carvana Co. will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total transaction of $1,175,000.00. Following the sale, the director now directly owns 53,407 shares in the company, valued at $12,550,645. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,340 shares of company stock valued at $81,044,588 over the last quarter. 17.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Thursday, January 2nd. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Finally, Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $270.00 to $280.00 in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.88.

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.