Wedmont Private Capital Invests $307,000 in Carvana Co. (NYSE:CVNA)

Wedmont Private Capital acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,491 shares of the company's stock, valued at approximately $307,000.

Several other hedge funds also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in shares of Carvana during the 4th quarter worth about $28,000. Global Retirement Partners LLC grew its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana in the 4th quarter worth approximately $31,000. Venturi Wealth Management LLC lifted its position in shares of Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after acquiring an additional 99 shares during the period. Finally, Transce3nd LLC acquired a new stake in Carvana in the fourth quarter valued at approximately $48,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the completion of the sale, the chief operating officer now owns 146,278 shares of the company's stock, valued at approximately $30,769,577.30. The trade was a 25.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,336,046 shares of company stock valued at $401,789,783 over the last quarter. Corporate insiders own 17.12% of the company's stock.

Carvana Price Performance

NYSE:CVNA traded down $22.24 during midday trading on Friday, hitting $296.71. 6,604,157 shares of the stock were exchanged, compared to its average volume of 3,935,991. The company has a market capitalization of $63.54 billion, a price-to-earnings ratio of 188.99 and a beta of 3.65. Carvana Co. has a one year low of $100.05 and a one year high of $351.43. The business has a 50-day moving average price of $272.91 and a two-hundred day moving average price of $240.85. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVNA shares. Morgan Stanley increased their target price on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Evercore ISI decreased their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Finally, Citigroup lifted their price target on shares of Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $280.35.

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.