Wealthfront Advisers LLC Grows Position in Carvana Co. $CVNA

Wealthfront Advisers LLC grew its holdings in Carvana Co. (NYSE:CVNA) by 11.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,472 shares of the company’s stock after buying an additional 2,321 shares during the quarter. Wealthfront Advisers LLC’s holdings in Carvana were worth $8,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its stake in Carvana by 1,950.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock worth $37,467,000 after buying an additional 105,768 shares during the period. Federated Hermes Inc. grew its stake in shares of Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after acquiring an additional 147,683 shares in the last quarter. Hudson Bay Capital Management LP raised its stake in shares of Carvana by 158.0% in the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after acquiring an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Carvana by 11.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock worth $240,476,000 after purchasing an additional 64,424 shares in the last quarter. Finally, Strs Ohio grew its stake in Carvana by 89.9% during the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after purchasing an additional 17,878 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In other news, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $393.04, for a total value of $393,040.00. Following the completion of the sale, the vice president directly owned 37,192 shares of the company’s stock, valued at approximately $14,617,943.68. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $411.27, for a total value of $4,112,700.00. Following the completion of the sale, the chief operating officer directly owned 98,652 shares of the company’s stock, valued at approximately $40,572,608.04. This trade represents a 9.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 420,351 shares of company stock valued at $179,589,049. 17.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVNA shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Carvana in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a research note on Monday, December 29th. Morgan Stanley reissued an “overweight” rating on shares of Carvana in a research report on Thursday, January 8th. Evercore raised their price objective on shares of Carvana from $425.00 to $430.00 in a report on Tuesday, January 27th. Finally, Barclays boosted their target price on shares of Carvana from $465.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average price target of $474.27.

Carvana Trading Down 6.9%

NYSE CVNA opened at $364.79 on Thursday. The firm’s fifty day moving average price is $436.75 and its 200 day moving average price is $382.24. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The company has a market capitalization of $79.36 billion, a price-to-earnings ratio of 83.29, a price-to-earnings-growth ratio of 0.95 and a beta of 3.57.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.