Kondo Wealth Advisors Inc. Sells 277 Shares of Carvana Co. $CVNA

Kondo Wealth Advisors Inc. decreased its stake in Carvana Co. (NYSE:CVNA) by 8.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,176 shares of the company’s stock after selling 277 shares during the period. Kondo Wealth Advisors Inc.’s holdings in Carvana were worth $664,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group increased its stake in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Carvana during the first quarter valued at approximately $33,000. Geneos Wealth Management Inc. grew its holdings in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after purchasing an additional 181 shares during the period. Versant Capital Management Inc increased its stake in Carvana by 39.4% in the first quarter. Versant Capital Management Inc now owns 290 shares of the company’s stock valued at $61,000 after purchasing an additional 82 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Carvana in the first quarter worth $90,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the sale, the chief financial officer directly 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 filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $364.66, for a total transaction of $3,646,600.00. Following the transaction, the chief operating officer owned 104,416 shares of the company’s stock, valued at approximately $38,076,338.56. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,423,157 shares of company stock worth $856,602,667. 17.12% of the stock is owned by insiders.

Carvana Trading Down 2.8%

NYSE:CVNA opened at $354.89 on Friday. The company has a market cap of $76.37 billion, a P/E ratio of 88.95, a price-to-earnings-growth ratio of 1.21 and a beta of 3.51. Carvana Co. has a twelve month low of $133.57 and a twelve month high of $413.33. The business has a 50 day moving average price of $353.80 and a two-hundred day moving average price of $289.02. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm’s revenue was up 41.9% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. As a group, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Carvana in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on Carvana from $350.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. DA Davidson upped their price target on shares of Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Finally, Bank of America raised their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $383.47.

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.