Cerity Partners LLC Acquires 2,234 Shares of Carvana Co. (NYSE:CVNA)

Cerity Partners LLC raised its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 112.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,215 shares of the company's stock after buying an additional 2,234 shares during the quarter. Cerity Partners LLC's holdings in Carvana were worth $734,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

CVNA has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Carvana from $230.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price objective on shares of Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Piper Sandler upped their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Royal Bank of Canada upgraded Carvana to a "sector perform" rating and raised their price target for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Stephens started coverage on Carvana in a research note on Thursday, September 12th. They set an "overweight" rating and a $190.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $220.94.

Carvana Trading Down 1.8 %

NYSE:CVNA traded down $4.52 during midday trading on Friday, reaching $251.21. 2,730,660 shares of the stock traded hands, compared to its average volume of 2,256,915. The stock has a market capitalization of $52.16 billion, a P/E ratio of 25,146.15 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a fifty day moving average of $221.77 and a 200 day moving average of $164.17. Carvana Co. has a 12 month low of $36.53 and a 12 month high of $268.34.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.47 billion. Carvana's revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, research analysts predict that Carvana Co. will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company's stock, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,097,063 shares of company stock valued at $393,287,959 in the last 90 days. Insiders own 17.12% of the company's stock.

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.