Focus Partners Advisor Solutions LLC Boosts Holdings in Carvana Co. $CVNA

Focus Partners Advisor Solutions LLC raised its holdings in shares of Carvana Co. (NYSE:CVNA) by 64.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,323 shares of the company’s stock after purchasing an additional 2,862 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Carvana were worth $2,763,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC increased its holdings in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in Carvana during the 3rd quarter worth approximately $38,000. Washington Trust Advisors Inc. acquired a new position in Carvana during the 3rd quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Carvana in the second quarter worth $38,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Carvana in the second quarter worth $49,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA stock opened at $315.67 on Thursday. The stock has a market cap of $69.08 billion, a PE ratio of 39.26 and a beta of 3.60. The business has a 50-day simple moving average of $404.04 and a 200-day simple moving average of $380.66. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $486.89.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping the consensus estimate of $1.10 by $3.12. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.Carvana’s revenue for the quarter was up 58.0% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. On average, equities analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, insider Thomas Taira sold 1,047 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $398.54, for a total transaction of $417,271.38. Following the sale, the insider owned 66,625 shares in the company, valued at approximately $26,552,727.50. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $410.19, for a total transaction of $5,229,922.50. Following the completion of the transaction, the chief financial officer owned 202,817 shares of the company’s stock, valued at approximately $83,193,505.23. This trade represents a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 300,673 shares of company stock worth $133,268,531. 17.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVNA shares. Jefferies Financial Group dropped their price objective on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Carvana in a research note on Thursday, January 8th. Barclays cut their price objective on Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Citigroup decreased their target price on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, Wedbush dropped their target price on Carvana from $500.00 to $425.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus price target of $440.59.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.