Kestra Private Wealth Services LLC Has $1.27 Million Stake in Carvana Co. (NYSE:CVNA)

Kestra Private Wealth Services LLC lifted its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 410.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,053 shares of the company's stock after purchasing an additional 4,867 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Carvana were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Transce3nd LLC acquired a new stake in Carvana in the 4th quarter valued at about $48,000. Versant Capital Management Inc lifted 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 stake in Carvana in the 4th quarter valued at about $75,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Carvana in the 4th quarter valued at about $98,000. Finally, Shell Asset Management Co. acquired a new stake in Carvana in the 4th quarter valued at about $116,000. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

CVNA has been the topic of several research reports. Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Morgan Stanley upped their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Bank of America upped their price objective on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Gordon Haskett initiated coverage on shares of Carvana in a report on Monday, July 14th. They issued a "hold" rating and a $329.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and a consensus price target of $318.16.

Carvana Price Performance

CVNA traded up $5.58 on Friday, hitting $331.67. 2,065,059 shares of the stock were exchanged, compared to its average volume of 2,795,500. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $364.00. The business has a 50-day moving average of $328.40 and a two-hundred day moving average of $262.44. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The firm has a market capitalization of $71.02 billion, a price-to-earnings ratio of 116.38, a PEG ratio of 1.28 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 EPS 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 net margin of 2.68% and a return on equity of 44.86%. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Daniel J. Gill sold 70,166 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the transaction, the insider owned 201,087 shares of the company's stock, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 shares were 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 directly owned 37,092,317 shares of the company's stock, valued at $12,870,663,075.83. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,171,515 shares of company stock valued at $719,730,548. 17.12% of the stock is currently owned by insiders.

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.