Arkadios Wealth Advisors Purchases Shares of 1,156 Carvana Co. (NYSE:CVNA)

Key Points

• Arkadios Wealth Advisors has invested approximately $242,000 to purchase 1,156 shares in Carvana Co. as indicated by their recent SEC filing.
• Insider activity shows significant selling, with Daniel J. Gill and major shareholder Ernest C. Garcia II selling a combined total of 173,376 shares, resulting in substantial decreases in their holdings.
• Carvana's stock has experienced a rebound, with analysts raising their price targets; Wells Fargo increased its target from $390 to $425, while both JPMorgan and Oppenheimer also adjusted their expectations upward.

Arkadios Wealth Advisors bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,156 shares of the company's stock, valued at approximately $242,000.

A number of other large investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in Carvana in the 1st quarter valued at $33,000. Transce3nd LLC acquired a new position in shares of Carvana in the fourth quarter valued at about $48,000. Versant Capital Management Inc increased its position in Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after acquiring an additional 82 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Carvana during the fourth quarter worth about $75,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Carvana in the 4th quarter worth about $98,000. Institutional investors own 56.71% of the company's stock.

Carvana Price Performance

Shares of Carvana stock traded down $9.32 during midday trading on Friday, hitting $348.43. 2,819,174 shares of the company traded hands, compared to its average volume of 4,226,069. The firm's fifty day moving average price is $336.91 and its 200-day moving average price is $271.00. The stock has a market cap of $74.61 billion, a price-to-earnings ratio of 87.33, a PEG ratio of 1.17 and a beta of 3.57. Carvana Co. has a 12 month low of $124.39 and a 12 month high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company's quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) earnings per share. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $360.20, for a total value of $36,020,000.00. Following the completion of the transaction, the insider owned 34,942,792 shares of the company's stock, valued at $12,586,393,678.40. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $370.55, for a total value of $3,705,500.00. Following the sale, the chief operating officer directly owned 116,855 shares in the company, valued at $43,300,620.25. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,813,047 shares of company stock worth $968,081,920 over the last 90 days. 17.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stephens raised their target price on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. DA Davidson raised their price objective on Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 target price for the company. Robert W. Baird raised their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Evercore ISI upped their price objective on shares of Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $379.65.

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.