Farther Finance Advisors LLC Acquires 1,329 Shares of Carvana Co. $CVNA

Key Points

• Farther Finance Advisors LLC increased its stake in Carvana Co. by 38.2%, acquiring an additional 1,329 shares during the second quarter, bringing their total holdings to 4,811 shares valued at approximately $1.62 million.
• Several hedge funds notably boosted their investments in Carvana, with Brooklyn Investment Group increasing its holdings by an extraordinary 961.5% in the first quarter.
• Analysts have expressed positive sentiment, with 12 analysts rating the stock as a Buy and a consensus price target of $387.88, reflecting overall optimism in Carvana's market position.

Farther Finance Advisors LLC grew its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 38.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,811 shares of the company's stock after buying an additional 1,329 shares during the period. Farther Finance Advisors LLC's holdings in Carvana were worth $1,621,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group boosted its holdings in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Carvana during the 1st quarter worth approximately $33,000. Geneos Wealth Management Inc. boosted its holdings in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after buying an additional 181 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Carvana by 39.4% during 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. Finally, Grove Bank & Trust boosted its holdings in shares of Carvana by 208.1% during the 2nd quarter. Grove Bank & Trust now owns 305 shares of the company's stock worth $103,000 after buying an additional 206 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CVNA. William Blair restated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Bank of America boosted their price objective on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Gordon Haskett started coverage on Carvana in a research note on Monday, July 14th. They set a "hold" rating and a $329.00 price objective on the stock. Stephens restated an "overweight" rating and issued a $440.00 target price on shares of Carvana in a research note on Tuesday. Finally, Needham & Company LLC upped their price objective on Carvana from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $387.88.

Carvana Price Performance

NYSE CVNA opened at $378.33 on Wednesday. The company has a market cap of $81.42 billion, a PE ratio of 94.82, a price-to-earnings-growth ratio of 1.28 and a beta of 3.51. 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 firm's 50-day simple moving average is $358.23 and its two-hundred day simple moving average is $298.47.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 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 for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. The company's revenue was up 41.9% compared to the same quarter last year. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In related news, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $390.14, for a total value of $3,901,400.00. Following the transaction, the chief executive officer directly owned 411,440 shares in the company, valued at approximately $160,519,201.60. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the completion of the sale, the insider directly owned 83,018 shares of the company's stock, valued at approximately $31,131,750. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,371,066 shares of company stock worth $843,751,783 over the last ninety days. Company insiders own 16.36% 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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