3,658 Shares in Carvana Co. $CVNA Bought by Pinnacle Wealth Management LLC

Key Points

• Pinnacle Wealth Management LLC has acquired 3,658 shares of Carvana Co. valued at approximately $765,000, making it the firm's 20th largest holding.
• Carvana reported earnings of $1.28 per share, beating analysts' expectations, along with a revenue of $4.84 billion for the quarter, representing a 41.9% increase year-over-year.
• Institutional investors currently own 56.71% of Carvana's stock, while recent price target upgrades by analysts have raised expectations for the company's future share performance.

Pinnacle Wealth Management LLC acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,658 shares of the company's stock, valued at approximately $765,000. Carvana comprises approximately 0.9% of Pinnacle Wealth Management LLC's portfolio, making the stock its 20th biggest holding.

A number of other large investors have also added to or reduced their stakes in CVNA. Brooklyn Investment Group increased its stake in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Carvana in the 1st quarter worth approximately $33,000. Transce3nd LLC bought a new position in shares of Carvana during the 4th quarter valued at approximately $48,000. Versant Capital Management Inc increased its position in shares of Carvana by 39.4% during 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. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Carvana during the 1st quarter valued at approximately $90,000. Institutional investors own 56.71% of the company's stock.

Carvana Trading Up 5.3%

Carvana stock traded up $18.1040 during mid-day trading on Friday, hitting $357.1740. The company's stock had a trading volume of 3,473,703 shares, compared to its average volume of 4,134,126. The company has a 50 day moving average of $338.88 and a 200-day moving average of $278.17. The stock has a market cap of $76.86 billion, a PE ratio of 89.52, a P/E/G ratio of 1.12 and a beta of 3.57. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a one year low of $124.39 and a one year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the prior year, the business earned ($0.05) EPS. The business's revenue for the quarter was up 41.9% compared to the same quarter last year. On average, research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the topic of several analyst reports. DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Stephens boosted their target price on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Evercore ISI boosted their target price on Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research report on Tuesday, August 12th. Piper Sandler boosted their target price on Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, JMP Securities boosted their target price on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $383.47.

Insider Buying and Selling at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $347.99, for a total value of $3,479,900.00. Following the completion of the sale, the chief executive officer directly owned 531,440 shares in the company, valued at approximately $184,935,805.60. This represents a 1.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 95,087 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $349.09, for a total value of $33,193,920.83. Following the completion of the sale, the insider owned 34,442,317 shares of the company's stock, valued at $12,023,468,441.53. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,036,140 shares of company stock valued at $1,057,170,571 over the last quarter. Company insiders own 17.12% of the company's stock.

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.