Raleigh Capital Management Inc. Buys 309 Shares of Carvana Co. (NYSE:CVNA)

Raleigh Capital Management Inc. grew its stake in Carvana Co. (NYSE:CVNAFree Report) by 1,471.4% during the fourth quarter, Holdings Channel reports. The firm owned 330 shares of the company’s stock after purchasing an additional 309 shares during the period. Raleigh Capital Management Inc.’s holdings in Carvana were worth $67,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Carvana by 155.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock valued at $2,996,000 after buying an additional 14,174 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Carvana by 20.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 353,664 shares of the company’s stock worth $45,556,000 after buying an additional 59,482 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Carvana by 240.0% in the 2nd quarter. Amalgamated Bank now owns 11,929 shares of the company’s stock worth $1,536,000 after buying an additional 8,420 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Carvana in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVNA. Bank of America boosted their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.94.

Read Our Latest Research Report on CVNA

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was 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 of the company’s stock, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 380,383 shares of company stock worth $88,981,508 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

NYSE:CVNA opened at $243.32 on Friday. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The business’s fifty day moving average is $231.02 and its 200 day moving average is $189.22. 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 market cap of $50.52 billion, a price-to-earnings ratio of 24,356.06 and a beta of 3.38.

Carvana (NYSE:CVNAGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Research analysts predict that Carvana Co. will post 0.88 EPS for the current year.

Carvana Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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