Janney Montgomery Scott LLC Takes $204,000 Position in Carvana Co. (NYSE:CVNA)

Janney Montgomery Scott LLC acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 976 shares of the company's stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC acquired a new position in Carvana in the 4th quarter valued at about $31,000. Transce3nd LLC acquired a new position in Carvana in the 4th quarter valued at about $48,000. Versant Capital Management Inc raised its stake in Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Carvana in the 4th quarter valued at about $75,000. Finally, EverSource Wealth Advisors LLC raised its stake in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after purchasing an additional 74 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research analyst reports. Stephens upped their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Royal Bank Of Canada upped their price objective on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Citigroup upped their price objective on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $303.59.

Carvana Stock Down 1.5%

NYSE CVNA traded down $5.10 on Thursday, reaching $345.99. The company had a trading volume of 2,130,945 shares, compared to its average volume of 3,834,428. The firm has a market capitalization of $74.09 billion, a PE ratio of 121.40, a P/E/G ratio of 1.37 and a beta of 3.59. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $364.00. The firm has a 50-day moving average of $314.24 and a 200-day moving average of $251.63. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The firm had revenue of $4.23 billion during 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%. Carvana's quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $12,870,663,075.83. This represents a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 51,380 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the transaction, the chief financial officer owned 162,079 shares of the company's stock, valued at approximately $52,842,616.37. This represents a 24.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,526,961 shares of company stock worth $495,828,642 in the last 90 days. 17.12% of the stock is owned by company 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.