Creative Planning Cuts Stock Holdings in Carvana Co. (NYSE:CVNA)

Creative Planning trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,270 shares of the company’s stock after selling 1,026 shares during the quarter. Creative Planning’s holdings in Carvana were worth $2,484,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Empirical Asset Management LLC increased its holdings in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares in the last quarter. CWM LLC increased its holdings in Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares in the last quarter. GAMMA Investing LLC increased its holdings in Carvana by 32.8% in the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after acquiring an additional 150 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in Carvana by 1.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after acquiring an additional 182 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC purchased a new stake in Carvana in the 3rd quarter worth $32,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVNA. Stephens began coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. Piper Sandler boosted their price target on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price target on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a report on Monday, September 9th. Finally, Citigroup lifted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $182.29.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total value of $10,005,750.00. Following the sale, the insider now directly owns 1,565,814 shares in the company, valued at approximately $208,895,245.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total value of $10,005,750.00. Following the sale, the insider now directly owns 1,565,814 shares in the company, valued at approximately $208,895,245.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the sale, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,880,891 shares of company stock valued at $479,638,935. 17.12% of the stock is currently owned by insiders.

Carvana Trading Up 1.2 %

Shares of CVNA stock opened at $202.53 on Monday. The company’s 50-day moving average price is $167.97 and its 200-day moving average price is $133.56. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The stock has a market cap of $41.03 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $203.72.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. As a group, equities analysts predict that Carvana Co. will post 0.29 earnings per share for the current year.

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.