Kingsview Wealth Management LLC Acquires Shares of 4,558 Carvana Co. (NYSE:CVNA)

Kingsview Wealth Management LLC purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,558 shares of the company's stock, valued at approximately $953,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVNA. Transce3nd LLC bought a new stake in shares of Carvana during the fourth quarter worth about $48,000. Versant Capital Management Inc grew its holdings in shares of Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Carvana during the fourth quarter worth about $75,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Carvana during the fourth quarter worth about $98,000. Finally, Shell Asset Management Co. bought a new stake in shares of Carvana during the fourth quarter worth about $116,000. Institutional investors own 56.71% of the company's stock.

Carvana Trading Up 0.1%

Shares of CVNA stock traded up $0.38 during trading hours on Tuesday, reaching $342.30. The company's stock had a trading volume of 2,629,986 shares, compared to its average volume of 3,763,300. The stock has a market capitalization of $73.30 billion, a P/E ratio of 120.11, a P/E/G ratio of 1.36 and a beta of 3.59. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The firm's fifty day simple moving average is $324.19 and its 200 day simple moving average is $257.82. 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 issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business's quarterly revenue was up 38.3% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $349.59, for a total transaction of $3,495,900.00. Following the sale, the chief executive officer directly owned 641,440 shares in the company, valued at $224,241,009.60. The trade was a 1.54% decrease in their ownership of the stock. 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 50,000 shares of Carvana stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $341.08, for a total value of $17,054,000.00. Following the sale, the insider owned 35,742,792 shares in the company, valued at $12,191,151,495.36. This represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,051,515 shares of company stock worth $678,916,748. Corporate insiders own 16.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVNA. Morgan Stanley lifted their price objective on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Evercore ISI upped their price objective on Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Robert W. Baird upped their price objective on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company upped their price objective on Carvana from $310.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $310.83.

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.