Axxcess Wealth Management LLC Invests $784,000 in Carvana Co. (NYSE:CVNA)

Axxcess Wealth Management LLC purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,504 shares of the company's stock, valued at approximately $784,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of Carvana in the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana in the 3rd quarter worth $32,000. Summit Securities Group LLC increased its stake in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company's stock worth $39,000 after acquiring an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Carvana during the 3rd quarter worth $40,000. Finally, Fifth Third Bancorp boosted its position in shares of Carvana by 450.8% during the 2nd 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. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling

In other news, Director Gregory B. Sullivan sold 5,000 shares of Carvana stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total transaction of $1,175,000.00. Following the completion of the sale, the director now directly owns 53,407 shares of the company's stock, valued at approximately $12,550,645. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 value of $1,175,000.00. Following the transaction, the director now owns 53,407 shares in the company, valued at approximately $12,550,645. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 208,495 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the sale, the chief financial officer now owns 90,732 shares of the company's stock, valued at approximately $20,362,982.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,727,913 shares of company stock worth $483,483,922. Company insiders own 17.12% of the company's stock.

Carvana Stock Down 2.6 %

Shares of Carvana stock traded down $6.44 during trading hours on Wednesday, reaching $240.31. 1,927,463 shares of the company were exchanged, compared to its average volume of 4,749,564. The firm has a market cap of $49.90 billion, a PE ratio of 23,998.00 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 1 year low of $29.84 and a 1 year high of $259.39. The stock's fifty day moving average is $186.66 and its 200 day moving average is $146.86.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. Carvana's revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. As a group, equities research analysts forecast that Carvana Co. will post 0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVNA shares. Robert W. Baird boosted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Needham & Company LLC upped their price objective on Carvana from $200.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Evercore ISI increased their price objective on Carvana from $186.00 to $190.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Stephens started coverage on Carvana in a research report on Thursday, September 12th. They issued an "overweight" rating and a $190.00 target price on the stock. Finally, DA Davidson increased their price target on Carvana from $110.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Carvana has an average rating of "Hold" and a consensus price target of $217.71.

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.