Steward Partners Investment Advisory LLC Grows Holdings in Carvana Co. (NYSE:CVNA)

Steward Partners Investment Advisory LLC lifted its stake in shares of Carvana Co. (NYSE:CVNA – Get Rating) by 141.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 857 shares of the company’s stock after acquiring an additional 502 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Carvana were worth $102,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVNA. National Bank of Canada FI purchased a new position in shares of Carvana during the 4th quarter worth about $81,000. Janney Montgomery Scott LLC lifted its holdings in shares of Carvana by 10.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 2,105 shares of the company’s stock worth $488,000 after acquiring an additional 204 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Carvana during the 4th quarter worth about $46,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Carvana by 3.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 44,404 shares of the company’s stock worth $10,292,000 after acquiring an additional 1,463 shares during the period. Finally, Desjardins Global Asset Management Inc. purchased a new position in shares of Carvana during the 4th quarter worth about $60,000.

Insider Buying and Selling

In other news, Director J Danforth Quayle acquired 18,750 shares of Carvana stock in a transaction that occurred on Tuesday, May 17th. The shares were purchased at an average cost of $39.14 per share, for a total transaction of $733,875.00. Following the completion of the purchase, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $489,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director J Danforth Quayle bought 18,750 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were bought at an average cost of $39.14 per share, for a total transaction of $733,875.00. Following the completion of the purchase, the director now owns 12,500 shares of the company’s stock, valued at approximately $489,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul W. Breaux bought 15,000 shares of the business’s stock in a transaction on Friday, May 20th. The stock was bought at an average price of $32.57 per share, for a total transaction of $488,550.00. Following the completion of the purchase, the insider now directly owns 49,240 shares of the company’s stock, valued at approximately $1,603,746.80. The disclosure for this purchase can be found here. Insiders have bought 2,197,008 shares of company stock worth $47,538,049 over the last ninety days. 17.67% of the stock is owned by insiders.

Carvana Stock Performance

Shares of CVNA opened at $34.05 on Wednesday. The business’s fifty day moving average price is $25.77 and its 200 day moving average price is $80.87. Carvana Co. has a 12-month low of $19.45 and a 12-month high of $376.83. The stock has a market capitalization of $5.89 billion, a PE ratio of -8.45 and a beta of 2.69. The company has a debt-to-equity ratio of 63.19, a current ratio of 1.36 and a quick ratio of 0.47.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of Carvana from $65.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 8th. Stifel Nicolaus cut their price target on shares of Carvana from $48.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, June 28th. Royal Bank of Canada cut their price target on shares of Carvana from $138.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, April 21st. Cowen cut their price target on shares of Carvana to $142.00 and set an “outperform” rating on the stock in a report on Monday, May 16th. Finally, DA Davidson cut their price target on shares of Carvana from $140.00 to $49.00 and set a “na” rating on the stock in a report on Monday, May 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $108.09.

Carvana Profile

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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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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