Independent Solutions Wealth Management LLC Acquires Shares of 860 Carvana Co. $CVNA

Key Points

• Independent Solutions Wealth Management LLC has acquired 860 shares of Carvana Co., valued at approximately $290,000, indicating institutional interest in the stock.
• Carvana recently reported earnings of $1.28 per share, beating expectations and reflecting significant revenue growth of 41.9% year-over-year.
• Several brokerage firms have adjusted their price targets for Carvana, with Jefferies setting a target of $475.00 and other analysts maintaining a generally positive outlook with an average rating of "Moderate Buy."

Independent Solutions Wealth Management LLC acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 860 shares of the company's stock, valued at approximately $290,000.

Several other institutional investors have also modified their holdings of the company. Warren Street Wealth Advisors LLC boosted its stake in shares of Carvana by 2.8% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock worth $388,000 after acquiring an additional 31 shares in the last quarter. Yousif Capital Management LLC boosted its stake 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 worth $265,000 after acquiring an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock worth $256,000 after acquiring an additional 60 shares in the last quarter. Commerce Bank boosted its stake in shares of Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company's stock worth $930,000 after acquiring an additional 69 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Carvana by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock worth $466,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Up 0.3%

Shares of NYSE CVNA opened at $370.73 on Wednesday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The firm has a fifty day moving average of $365.99 and a 200-day moving average of $312.47. The stock has a market capitalization of $79.78 billion, a PE ratio of 92.92, a P/E/G ratio of 1.21 and a beta of 3.55. 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 (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (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 company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the previous year, the company earned ($0.05) EPS. The business's quarterly revenue was up 41.9% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on CVNA. Jefferies Financial Group set a $475.00 price target on Carvana and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Wall Street Zen lowered Carvana from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Carvana in a research note on Saturday, September 27th. Piper Sandler lifted their price objective on Carvana from $340.00 to $440.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $404.94.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 93,376 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the completion of the transaction, the insider directly owned 6,624 shares of the company's stock, valued at $2,610,915.84. This represents a 93.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $352.36, for a total transaction of $35,236,000.00. Following the completion of the sale, the insider owned 36,237,346 shares in the company, valued at approximately $12,768,591,236.56. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,189,966 shares of company stock valued at $787,174,666. 16.36% of the stock is currently owned by corporate insiders.

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.

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