Janney Montgomery Scott LLC Takes Position in Carvana Co. (NYSE:CVNA)

Janney Montgomery Scott LLC bought a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 976 shares of the company's stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Polianta Ltd increased its position in Carvana by 7.8% during the 1st quarter. Polianta Ltd now owns 5,500 shares of the company's stock valued at $1,149,000 after purchasing an additional 400 shares during the period. Net Worth Advisory Group purchased a new stake in Carvana during the 1st quarter worth approximately $442,000. Simon Quick Advisors LLC purchased a new stake in Carvana during the 1st quarter worth approximately $257,000. Assenagon Asset Management S.A. grew its position in Carvana by 54.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 592,582 shares of the company's stock worth $123,897,000 after purchasing an additional 209,975 shares during the last quarter. Finally, Integrated Advisors Network LLC purchased a new stake in Carvana during the 1st quarter worth approximately $773,000. Institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 51,380 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,379,861 shares of company stock worth $443,986,545 in the last three months. Insiders own 16.36% of the company's stock.

Carvana Stock Up 2.7%

Carvana stock traded up $9.40 during trading on Monday, reaching $357.73. The stock had a trading volume of 3,158,115 shares, compared to its average volume of 3,862,692. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $359.90. The business has a 50 day moving average price of $308.18 and a 200 day moving average price of $249.42. The stock has a market cap of $76.60 billion, a PE ratio of 125.52, a P/E/G ratio of 1.36 and a beta of 3.59.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stephens upped their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday. Robert W. Baird increased their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Citigroup restated an "outperform" rating on shares of Carvana in a research report on Wednesday, July 2nd. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada increased their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $298.29.

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.