LPL Financial LLC Boosts Stock Position in Carvana Co. (NYSE:CVNA)

LPL Financial LLC lifted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,745 shares of the company's stock after buying an additional 3,067 shares during the period. LPL Financial LLC's holdings in Carvana were worth $8,693,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cerity Partners LLC raised its position in Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company's stock worth $734,000 after purchasing an additional 2,234 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of Carvana during the third quarter worth $282,000. Rockefeller Capital Management L.P. acquired a new position in shares of Carvana during the third quarter valued at $1,772,000. Captrust Financial Advisors bought a new position in shares of Carvana in the 3rd quarter valued at about $270,000. Finally, Centiva Capital LP acquired a new stake in shares of Carvana during the 3rd quarter worth approximately $555,000. Institutional investors own 56.71% of the company's stock.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the business's 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 of the company's stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares of the company's stock, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock valued at $69,243,820 over the last ninety days. 16.36% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on CVNA. Evercore ISI lowered their target price on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada raised their price objective on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Piper Sandler upgraded Carvana from a "neutral" rating to an "overweight" rating in a report on Monday, March 31st. Wells Fargo & Company lowered their price target on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Finally, Stephens reiterated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $253.59.

Carvana Trading Up 24.5 %

CVNA traded up $43.28 during trading on Wednesday, reaching $219.60. 10,804,999 shares of the stock traded hands, compared to its average volume of 4,073,783. 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 stock's 50-day moving average is $218.19 and its 200 day moving average is $219.77. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The stock has a market capitalization of $46.81 billion, a PE ratio of 139.87 and a beta of 3.61.

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

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.