Raymond James & Associates Boosts Position in Carvana Co. (NYSE:CVNA)

Raymond James & Associates boosted its position in Carvana Co. (NYSE:CVNA - Free Report) by 28.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,577 shares of the company's stock after purchasing an additional 3,033 shares during the quarter. Raymond James & Associates' holdings in Carvana were worth $2,364,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new position in Carvana in the third quarter worth about $32,000. Ridgewood Investments LLC purchased a new position in Carvana in the second quarter worth about $32,000. Summit Securities Group LLC raised its holdings in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company's stock worth $39,000 after buying an additional 3,300 shares during the last quarter. Fifth Third Bancorp raised its holdings in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company's stock worth $43,000 after buying an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Carvana in the second quarter worth about $51,000. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVNA shares. Evercore ISI boosted their price objective on shares of Carvana from $186.00 to $190.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Royal Bank of Canada raised shares of Carvana to a "sector perform" rating and boosted their price objective for the company from $166.00 to $170.00 in a report on Monday, August 19th. JMP Securities boosted their price objective on shares of Carvana from $200.00 to $320.00 and gave the company a "market outperform" rating in a report on Thursday, October 31st. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $110.00 to $260.00 in a report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $217.71.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 14,548 shares of the company's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the sale, the insider now owns 119,494 shares of the company's stock, valued at $23,659,812. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark W. Jenkins sold 20,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total value of $4,835,600.00. Following the transaction, the chief financial officer now directly owns 170,732 shares in the company, valued at approximately $41,279,582.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the company's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the completion of the transaction, the insider now owns 119,494 shares in the company, valued at approximately $23,659,812. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,897,429 shares of company stock valued at $506,004,038 over the last 90 days. 17.18% of the stock is owned by corporate insiders.

Carvana Price Performance

Shares of CVNA stock traded up $3.25 during mid-day trading on Wednesday, hitting $238.93. The company had a trading volume of 2,944,638 shares, compared to its average volume of 4,810,592. Carvana Co. has a 52-week low of $27.75 and a 52-week high of $259.39. The stock's 50 day moving average price is $177.23 and its 200-day moving average price is $140.97. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a market capitalization of $49.45 billion, a P/E ratio of 23,578.00 and a beta of 3.37.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.47 billion. Carvana's quarterly revenue was up 31.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. Equities research analysts forecast that Carvana Co. will post 0.53 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.