Consolidated Portfolio Review Corp Purchases New Position in Carvana Co. $CVNA

Key Points

• Consolidated Portfolio Review Corp acquired 709 shares of Carvana Co., valued at approximately $239,000, during the second quarter of the year.
• Insiders have been active in selling Carvana stock, with VP Stephen R. Palmer selling 1,000 shares for approximately $390,140 and insider Paul W. Breaux selling 15,000 shares for about $5.97 million.
• Carvana’s stock price has seen significant fluctuations, having a 52-week low of $148.25 and a high of $413.33, with analysts setting an average price target of $404.94 for the stock.

Consolidated Portfolio Review Corp acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 709 shares of the company's stock, valued at approximately $239,000.

Several other institutional investors have also added to or reduced their stakes in CVNA. Wealth Enhancement Advisory Services LLC raised 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 during the last quarter. Versant Capital Management Inc increased its holdings in Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares in the last quarter. Wedmont Private Capital purchased a new position in Carvana in the 1st quarter worth about $307,000. Farther Finance Advisors LLC lifted its stake in Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after acquiring an additional 2,678 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after acquiring an additional 50 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Carvana

In related news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction 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 transaction, the vice president owned 43,513 shares in the company, valued at approximately $16,976,161.82. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total value of $5,970,000.00. Following the completion of the sale, the insider owned 81,716 shares of the company's stock, valued at $32,522,968. The trade was a 15.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,307,066 shares of company stock valued at $827,792,454. Company insiders own 17.12% of the company's stock.

Carvana Stock Performance

Shares of CVNA opened at $394.49 on Friday. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 98.87, a PEG ratio of 1.30 and a beta of 3.55. The business has a 50-day simple moving average of $363.74 and a two-hundred day simple moving average of $307.57.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted ($0.05) EPS. The firm's quarterly revenue was up 41.9% compared to the same quarter last year. On average, analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CVNA shares. Royal Bank Of Canada boosted their price objective on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. DA Davidson boosted their target price on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Evercore ISI increased their price target on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a report on Tuesday, August 12th. Jefferies Financial Group set a $475.00 price objective on Carvana in a report on Wednesday. Finally, Piper Sandler increased their target price on Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $404.94.

About Carvana

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.