5,291 Shares in Carvana Co. $CVNA Purchased by Valmark Advisers Inc.

Key Points

• Valmark Advisers Inc. purchased 5,291 shares of Carvana Co. valued at approximately $1.78 million, marking a significant investment in the company during the second quarter.
• Carvana's stock has seen positive analyst ratings, with Oppenheimer upgrading it to "outperform" and setting a target price of $450.00, while the consensus rating remains a "Moderate Buy" at around $404.94.
• Insider activity included significant sales by executives, with CEO Ernest C. Garcia III selling 10,000 shares for approximately $3.7 million, reducing his ownership stake by 2.73%.

Valmark Advisers Inc. acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,291 shares of the company's stock, valued at approximately $1,783,000.

A number of other large investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Carvana by 16.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock worth $511,000 after purchasing an additional 348 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Carvana in the first quarter worth about $307,000. Farther Finance Advisors LLC increased its stake in shares of Carvana by 333.1% in the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Carvana by 31.4% in the first quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $215,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVNA shares. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price for the company in a research note on Friday, July 25th. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Jefferies Financial Group set a $475.00 price objective on shares of Carvana and gave the company a "buy" rating in a research report on Wednesday, October 1st. JMP Securities raised their price objective on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Carvana in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus target price of $404.94.

Carvana Trading Down 2.6%

Shares of Carvana stock opened at $360.80 on Thursday. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The firm has a market cap of $77.64 billion, a PE ratio of 90.43, a PEG ratio of 1.21 and a beta of 3.55. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a 50 day simple moving average of $366.54 and a two-hundred day simple moving average of $312.80.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business posted ($0.05) earnings per share. Carvana's revenue for the quarter was up 41.9% on a year-over-year basis. Analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total transaction of $390,140.00. Following the completion of the sale, the vice president directly owned 43,513 shares in the company, valued at $16,976,161.82. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $370.34, for a total transaction of $3,703,400.00. Following the completion of the sale, the chief executive officer owned 356,440 shares of the company's stock, valued at approximately $132,003,989.60. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,099,966 shares of company stock valued at $755,642,066 over the last quarter. Company insiders own 17.12% of the company's stock.

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.

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