Independent Advisor Alliance Invests $306,000 in Carvana Co. (NYSE:CVNA)

Independent Advisor Alliance acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,507 shares of the company's stock, valued at approximately $306,000.

A number of other large investors have also added to or reduced their stakes in CVNA. Sumitomo Mitsui Trust Group Inc. bought a new position in Carvana in the third quarter worth about $439,000. KBC Group NV increased its holdings in shares of Carvana by 23.1% during the third quarter. KBC Group NV now owns 2,866 shares of the company's stock valued at $499,000 after acquiring an additional 538 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company's stock valued at $586,000 after acquiring an additional 115 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Carvana during the third quarter valued at about $494,000. Finally, Natixis Advisors LLC increased its holdings in shares of Carvana by 2.6% during the third quarter. Natixis Advisors LLC now owns 80,885 shares of the company's stock valued at $14,083,000 after acquiring an additional 2,054 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is owned by insiders.

Remove Ads

Carvana Price Performance

Shares of CVNA stock traded up $5.96 during trading hours on Friday, hitting $191.38. 6,168,882 shares of the company's stock were exchanged, compared to its average volume of 3,853,684. The firm has a 50 day moving average of $227.57 and a two-hundred day moving average of $214.47. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a "neutral" rating in a report on Wednesday, February 19th. Evercore ISI cut their price objective on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Finally, William Blair restated an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $262.71.

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.