Stratos Wealth Partners LTD. Makes New Investment in Carvana Co. (NYSE:CVNA)

Stratos Wealth Partners LTD. purchased a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,718 shares of the company's stock, valued at approximately $359,000.

Several other large investors have also made changes to their positions in CVNA. Atria Investments Inc acquired a new stake in shares of Carvana during the 4th quarter worth approximately $240,000. Independent Advisor Alliance acquired a new stake in Carvana in the fourth quarter valued at approximately $306,000. HighTower Advisors LLC boosted its position in Carvana by 179.7% in the fourth quarter. HighTower Advisors LLC now owns 4,035 shares of the company's stock valued at $821,000 after buying an additional 9,098 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after buying an additional 74 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Carvana by 418.7% in the fourth quarter. Farther Finance Advisors LLC now owns 804 shares of the company's stock valued at $164,000 after buying an additional 649 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Trading Up 1.2%

NYSE CVNA traded up $4.14 during mid-day trading on Wednesday, reaching $352.55. 3,569,088 shares of the stock were exchanged, compared to its average volume of 3,797,095. Carvana Co. has a one year low of $118.50 and a one year high of $364.00. The stock has a 50 day simple moving average of $319.51 and a 200-day simple moving average of $254.44. The stock has a market cap of $75.50 billion, a P/E ratio of 123.70, a P/E/G ratio of 1.36 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results 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. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm earned $0.23 earnings per share. Carvana's quarterly revenue was up 38.3% on a year-over-year basis. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on CVNA shares. JPMorgan Chase & Co. cut 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. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Stephens raised their target price on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. JMP Securities set a $440.00 target price on shares of Carvana and gave the company a "market outperform" rating in a research report on Wednesday, July 2nd. Finally, Gordon Haskett began coverage on shares of Carvana in a research report on Monday. They issued a "hold" rating and a $329.00 target price on the stock. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $305.00.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 51,380 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the sale, the chief financial officer directly owned 162,079 shares in the company, valued at approximately $52,842,616.37. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owned 37,092,317 shares of the company's stock, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,841,515 shares of company stock valued at $605,928,348 over the last quarter. Insiders own 17.12% of the company's stock.

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.