Carvana Co. (NYSE:CVNA) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its holdings in Carvana Co. (NYSE:CVNA) by 363.0% in the third quarter, HoldingsChannel.com reports. The firm owned 250 shares of the company’s stock after acquiring an additional 196 shares during the period. First Horizon Advisors Inc.’s holdings in Carvana were worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC bought a new position in Carvana in the 3rd quarter worth about $32,000. Summit Securities Group LLC increased its stake in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Carvana during the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp grew its holdings in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 4.4 %

Shares of CVNA stock opened at $259.36 on Monday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a fifty day moving average of $203.96 and a 200-day moving average of $154.76. The stock has a market cap of $53.85 billion, a price-to-earnings ratio of 25,961.96 and a beta of 3.37. Carvana Co. has a 52-week low of $29.84 and a 52-week high of $263.61.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the sale, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. The trade was a 69.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,318,063 shares of company stock worth $420,434,579. 17.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BTIG Research increased their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. TD Cowen upped their price target on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup boosted their target price on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Carvana currently has an average rating of “Hold” and an average target price of $217.71.

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.