Oppenheimer & Co. Inc. Has $277,000 Holdings in Carvana Co. (NYSE:CVNA)

Oppenheimer & Co. Inc. lowered its position in Carvana Co. (NYSE:CVNA - Free Report) by 42.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,325 shares of the company's stock after selling 964 shares during the period. Oppenheimer & Co. Inc.'s holdings in Carvana were worth $277,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Carvana in the fourth quarter valued at $31,000. Transce3nd LLC acquired a new position in shares of Carvana in the 4th quarter valued at about $48,000. Versant Capital Management Inc lifted its stake in shares of 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 period. Aster Capital Management DIFC Ltd bought a new stake in shares of Carvana during the 4th quarter valued at about $75,000. Finally, EverSource Wealth Advisors LLC grew its stake in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after purchasing an additional 74 shares during the period. 56.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $327.07, for a total value of $16,353,500.00. Following the completion of the sale, the insider directly owned 36,737,346 shares in the company, valued at approximately $12,015,683,756.22. The trade was a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernest C. Garcia III sold 420 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $335.29, for a total transaction of $140,821.80. Following the transaction, the chief executive officer directly owned 701,440 shares in the company, valued at approximately $235,185,817.60. This represents a 0.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,337,111 shares of company stock valued at $420,026,399 over the last ninety days. 17.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company raised their price target on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Royal Bank Of Canada lifted their price target 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, Wall Street Zen downgraded Carvana from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $293.88.

Carvana Stock Up 1.5%

CVNA opened at $343.45 on Thursday. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $351.43. The company has a market cap of $73.55 billion, a PE ratio of 120.51, a price-to-earnings-growth ratio of 1.32 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The company has a 50 day moving average of $301.34 and a 200 day moving average of $246.91.

Carvana (NYSE:CVNA - Get Free Report) last posted 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 business had revenue of $4.23 billion during 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 company's quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Carvana 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.

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