Sequoia Financial Advisors LLC Has $1.72 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

Sequoia Financial Advisors LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,432 shares of the company’s stock after buying an additional 2,310 shares during the period. Sequoia Financial Advisors LLC’s holdings in Carvana were worth $1,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sigma Planning Corp acquired a new stake in Carvana during the third quarter valued at $228,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Carvana during the third quarter valued at $439,000. Ashton Thomas Private Wealth LLC boosted its position in Carvana by 999.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,330 shares of the company’s stock valued at $232,000 after purchasing an additional 1,209 shares during the last quarter. Plato Investment Management Ltd boosted its position in Carvana by 113.3% during the third quarter. Plato Investment Management Ltd now owns 2,210 shares of the company’s stock valued at $384,000 after purchasing an additional 1,174 shares during the last quarter. Finally, KBC Group NV boosted its position in Carvana by 23.1% during the third quarter. KBC Group NV now owns 2,866 shares of the company’s stock valued at $499,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 8.8 %

Shares of CVNA opened at $181.37 on Friday. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56. The stock’s 50-day moving average price is $228.94 and its 200 day moving average price is $213.48.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVNA shares. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Citigroup boosted their price target on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Robert W. Baird boosted their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,784 shares of company stock worth $18,599,844 over the last three months. Company 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.