Florida Financial Advisors LLC Purchases Shares of 1,451 Carvana Co. (NYSE:CVNA)

Florida Financial Advisors LLC acquired a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,451 shares of the company's stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westmount Partners LLC acquired a new position in Carvana during the 1st quarter worth approximately $214,000. Stephens Inc. AR acquired a new stake in shares of Carvana in the 1st quarter worth approximately $303,000. Arizona State Retirement System grew its holdings in shares of Carvana by 1.1% in the 1st quarter. Arizona State Retirement System now owns 33,446 shares of the company's stock worth $6,993,000 after acquiring an additional 360 shares during the period. Xponance Inc. grew its holdings in shares of Carvana by 5.0% in the 1st quarter. Xponance Inc. now owns 14,839 shares of the company's stock worth $3,103,000 after acquiring an additional 713 shares during the period. Finally, LBP AM SA acquired a new stake in shares of Carvana in the 1st quarter worth approximately $512,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Price Performance

NYSE:CVNA traded down $5.49 during midday trading on Thursday, hitting $346.53. 3,339,683 shares of the stock were exchanged, compared to its average volume of 3,793,089. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The company has a market capitalization of $74.21 billion, a price-to-earnings ratio of 121.59, a P/E/G ratio of 1.36 and a beta of 3.59. The business has a 50-day moving average price of $321.39 and a two-hundred day moving average price of $255.12. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97.

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

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 51,380 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the sale, the chief financial officer directly owned 162,079 shares of the company's stock, valued at $52,842,616.37. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,841,515 shares of company stock valued at $605,928,348. Corporate insiders own 17.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup upped their price target on Carvana from $325.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and set a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley increased their target price on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, Royal Bank Of Canada increased their target price on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $305.00.

Carvana Company 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.