Carvana Co. (NYSE:CVNA) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,850 shares of the company's stock after selling 2,450 shares during the quarter. Cetera Investment Advisers' holdings in Carvana were worth $4,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVNA. Transce3nd LLC bought a new stake in Carvana during the 4th quarter worth about $48,000. Versant Capital Management Inc increased its holdings 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 buying an additional 82 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Carvana during the fourth quarter worth $75,000. Gordian Capital Singapore Pte Ltd bought a new position in Carvana during the fourth quarter worth $98,000. Finally, Shell Asset Management Co. bought a new position in Carvana during the fourth quarter worth $116,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Bank of America upped their price objective on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. William Blair reiterated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Robert W. Baird raised their target price on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $379.65.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares of the company's stock, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total value of $31,912,800.00. Following the transaction, the insider owned 197,832 shares in the company, valued at approximately $78,917,163.12. The trade was a 28.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,787,202 shares of company stock worth $951,316,546 in the last ninety days. 16.36% of the stock is owned by company insiders.

Carvana Trading Down 2.6%

Shares of CVNA traded down $9.23 during mid-day trading on Tuesday, hitting $351.43. 3,348,974 shares of the company's stock traded hands, compared to its average volume of 3,195,607. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33. The firm has a market capitalization of $75.26 billion, a P/E ratio of 88.08, a PEG ratio of 1.19 and a beta of 3.57. The business's 50-day moving average price is $334.70 and its 200-day moving average price is $268.97.

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

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.