Cambridge Investment Research Advisors Inc. Sells 4,781 Shares of Carvana Co. (NYSE:CVNA)

Cambridge Investment Research Advisors Inc. decreased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 47.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,248 shares of the company's stock after selling 4,781 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Carvana were worth $1,097,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Praxis Investment Management Inc. lifted its position in Carvana by 56.0% during the 1st quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company's stock worth $920,000 after buying an additional 1,580 shares in the last quarter. United Advisor Group LLC acquired a new stake in Carvana in the 1st quarter valued at about $233,000. Chicago Capital LLC raised its stake in shares of Carvana by 30.1% in the first quarter. Chicago Capital LLC now owns 7,948 shares of the company's stock worth $1,662,000 after acquiring an additional 1,839 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Carvana during the first quarter worth approximately $204,000. Finally, Polianta Ltd lifted its position in shares of Carvana by 7.8% during the first quarter. Polianta Ltd now owns 5,500 shares of the company's stock worth $1,149,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $348.51 on Friday. The firm's 50 day simple moving average is $305.85 and its 200 day simple moving average is $248.20. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $351.43. The company has a market capitalization of $74.63 billion, a price-to-earnings ratio of 122.28, a P/E/G ratio of 1.36 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVNA shares. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and issued a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research note on Saturday. JMP Securities set a $440.00 price target on Carvana and gave the company a "market outperform" rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and a consensus price target of $293.88.

Insider Activity

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $338.02, for a total value of $3,380,200.00. Following the completion of the transaction, the chief operating officer directly owned 126,855 shares of the company's stock, valued at approximately $42,879,527.10. The trade was a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $327.07, for a total value of $16,353,500.00. Following the completion of the sale, the insider owned 36,737,346 shares of the company's stock, valued at $12,015,683,756.22. This trade represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,379,861 shares of company stock worth $434,528,045 in the last 90 days. Corporate 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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