Net Worth Advisory Group Purchases New Shares in Carvana Co. (NYSE:CVNA)

Net Worth Advisory Group purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,116 shares of the company's stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Carvana during the fourth quarter worth $179,364,000. Vanguard Group Inc. lifted its position in shares of Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Castle Hook Partners LP acquired a new stake in Carvana in the fourth quarter valued at $116,020,000. BNP Paribas Financial Markets raised its holdings in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after acquiring an additional 481,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Carvana in the fourth quarter valued at $86,636,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVNA has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. DA Davidson upped their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Wedbush upgraded shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Royal Bank of Canada boosted their target price 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, Piper Sandler set a $340.00 target price on shares of Carvana and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $280.35.

Insider Activity

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now owns 123,803 shares in the company, valued at $18,681,872.70. This trade represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the sale, the insider now owns 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,336,046 shares of company stock worth $401,789,783 in the last 90 days. Company insiders own 17.12% of the company's stock.

Carvana Price Performance

NYSE CVNA traded down $6.58 on Monday, reaching $290.45. The company's stock had a trading volume of 5,107,764 shares, compared to its average volume of 3,940,702. Carvana Co. has a twelve month low of $100.05 and a twelve month high of $351.43. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock has a market cap of $62.20 billion, a PE ratio of 185.00 and a beta of 3.65. The firm's 50 day moving average is $275.19 and its two-hundred day moving average is $241.06.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. As a group, sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

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.