Patriot Financial Group Insurance Agency LLC Invests $3.04 Million in Carvana Co. $CVNA

Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,672 shares of the company’s stock, valued at approximately $3,041,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gavilan Investment Partners LLC bought a new stake in Carvana during the 3rd quarter worth about $26,030,000. Sands Capital Management LLC increased its position in Carvana by 44.4% in the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after acquiring an additional 751,019 shares in the last quarter. Intech Investment Management LLC increased its position in Carvana by 301.4% in the 3rd quarter. Intech Investment Management LLC now owns 7,230 shares of the company’s stock valued at $2,727,000 after acquiring an additional 5,429 shares in the last quarter. Picton Mahoney Asset Management raised its stake in shares of Carvana by 581.4% in the third quarter. Picton Mahoney Asset Management now owns 16,491 shares of the company’s stock worth $6,220,000 after acquiring an additional 14,071 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Carvana by 0.5% in the third quarter. Capital Research Global Investors now owns 3,989,809 shares of the company’s stock worth $1,505,186,000 after acquiring an additional 18,631 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Carvana news, insider Thomas Taira sold 5,597 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $67.15, for a total value of $375,838.55. Following the completion of the sale, the insider owned 315,075 shares of the company’s stock, valued at approximately $21,157,286.25. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $70.42, for a total transaction of $352,100.00. Following the completion of the sale, the vice president directly owned 152,955 shares of the company’s stock, valued at $10,771,091.10. The trade was a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 415,812 shares of company stock worth $29,056,896 over the last ninety days. Company insiders own 15.19% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Carvana in a research note on Thursday, June 18th. Argus dropped their price objective on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. BTIG Research restated a “buy” rating and issued a $97.00 price objective on shares of Carvana in a research report on Friday, June 5th. Citigroup reaffirmed an “outperform” rating on shares of Carvana in a report on Friday, May 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of Carvana in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Carvana Trading Down 0.1%

NYSE CVNA opened at $62.31 on Monday. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock has a 50-day simple moving average of $71.20 and a 200 day simple moving average of $74.65. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $68.34 billion, a PE ratio of 37.90, a P/E/G ratio of 10.52 and a beta of 3.45.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Research analysts forecast that Carvana Co. will post 1.58 EPS for the current year.

Carvana Company 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.