Parkside Advisors LLC Takes $248,000 Position in Carvana Co. $CVNA

Key Points

• Parkside Advisors LLC has acquired a new position in Carvana Co., purchasing 735 shares valued at approximately $248,000.
• Insider selling has been notable, with CFO Mark W. Jenkins selling 12,750 shares worth $4.6 million and insider Paul W. Breaux selling 15,000 shares for $5.6 million.
• Analysts give Carvana an average rating of "Moderate Buy" with an average target price of $383.47, following various adjustments in price objectives from different brokerages.

Parkside Advisors LLC bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 735 shares of the company's stock, valued at approximately $248,000.

A number of other large investors have also modified their holdings of CVNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Carvana by 9.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,927 shares of the company's stock valued at $5,679,000 after buying an additional 2,457 shares in the last quarter. Quantinno Capital Management LP grew its stake in Carvana by 10.6% during the 4th quarter. Quantinno Capital Management LP now owns 16,056 shares of the company's stock valued at $3,265,000 after purchasing an additional 1,536 shares in the last quarter. Shell Asset Management Co. acquired a new stake in Carvana during the 4th quarter valued at approximately $116,000. Toronto Dominion Bank acquired a new stake in Carvana during the 4th quarter valued at approximately $3,124,000. Finally, Strategic Wealth Partners Ltd. acquired a new stake in Carvana during the 4th quarter valued at approximately $161,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the sale, the chief financial officer owned 208,581 shares of the company's stock, valued at $76,011,088.02. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total value of $5,625,000.00. Following the transaction, the insider owned 83,018 shares in the company, valued at approximately $31,131,750. This trade represents a 15.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,426,037 shares of company stock worth $858,033,955 over the last ninety days. 17.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CVNA. Stephens raised their price objective on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Wall Street Zen lowered Carvana from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. Gordon Haskett began coverage on Carvana in a research note on Monday, July 14th. They set a "hold" rating and a $329.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Carvana from $350.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $383.47.

Carvana Trading Up 0.8%

Shares of NYSE CVNA opened at $364.73 on Tuesday. The stock's 50 day simple moving average is $354.20 and its 200 day simple moving average is $291.77. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The company has a market cap of $78.49 billion, a price-to-earnings ratio of 91.41, a price-to-earnings-growth ratio of 1.19 and a beta of 3.51. Carvana Co. has a 12-month low of $143.03 and a 12-month high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. Equities research 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.

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.