Cetera Investment Advisers Sells 193 Shares of Carvana Co. (NYSE:CVNA)

Cetera Investment Advisers reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 24,300 shares of the company’s stock after selling 193 shares during the period. Cetera Investment Advisers’ holdings in Carvana were worth $4,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. Quent Capital LLC bought a new position in Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC grew its position in Carvana by 79.2% during the fourth 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 last quarter. Finally, Transce3nd LLC bought a new position in Carvana during the fourth quarter valued at approximately $48,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Performance

Shares of CVNA stock opened at $303.94 on Thursday. The stock has a fifty day moving average of $215.64 and a 200 day moving average of $228.91. Carvana Co. has a 52 week low of $97.55 and a 52 week high of $311.88. The firm has a market capitalization of $64.79 billion, a price-to-earnings ratio of 193.59 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 38.3% on a year-over-year basis. As a group, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVNA shares. Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Citigroup raised their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. JMP Securities cut their target price on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Royal Bank of Canada raised their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $268.59.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 20,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the transaction, the chief financial officer now owns 199,962 shares of the company’s stock, valued at approximately $55,125,524.16. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares of the company’s stock, valued at $18,681,872.70. This represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,353 shares of company stock valued at $99,768,424. 16.36% of the stock is currently owned by company insiders.

Carvana 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.