Meridian Wealth Management LLC Invests $340,000 in Carvana Co. (NYSE:CVNA)

Meridian Wealth Management LLC purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,671 shares of the company’s stock, valued at approximately $340,000.

Other institutional investors have also modified their holdings of the company. Quent Capital LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC lifted its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Carvana in the 4th quarter valued at approximately $34,000. Versant Capital Management Inc purchased a new stake in Carvana in the 4th quarter valued at approximately $42,000. Finally, Venturi Wealth Management LLC lifted its stake in Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 0.5 %

CVNA stock opened at $216.25 on Thursday. The company has a market cap of $46.10 billion, a price-to-earnings ratio of 137.74 and a beta of 3.56. 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 business has a fifty day simple moving average of $232.84 and a 200-day simple moving average of $212.80. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVNA shares. JPMorgan Chase & Co. upped their target price on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup upped their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Robert W. Baird upped their target price on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Finally, Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Eight equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.06.

Insider Activity at Carvana

In related news, Director Ira J. Platt sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total value of $6,107,500.00. Following the completion of the sale, the director now directly owns 5,227 shares in the company, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,629 shares of company stock worth $30,866,419. Corporate insiders own 17.18% 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.