Carvana Co. (NYSE:CVNA) Shares Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its holdings in shares of Carvana Co. (NYSE:CVNAGet Rating) by 44.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,826 shares of the company’s stock after purchasing an additional 19,829 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Carvana were worth $1,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 49.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,100,843 shares of the company’s stock valued at $453,877,000 after acquiring an additional 6,670,993 shares during the period. Vanguard Group Inc. increased its holdings in Carvana by 46.8% in the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after purchasing an additional 2,325,545 shares during the last quarter. Baillie Gifford & Co. raised its position in Carvana by 15.0% in the second quarter. Baillie Gifford & Co. now owns 10,901,629 shares of the company’s stock valued at $246,159,000 after purchasing an additional 1,418,746 shares during the period. Renaissance Technologies LLC acquired a new position in Carvana during the second quarter worth $28,202,000. Finally, Spruce House Investment Management LLC boosted its position in shares of Carvana by 23.0% during the second quarter. Spruce House Investment Management LLC now owns 6,150,000 shares of the company’s stock worth $138,867,000 after buying an additional 1,150,000 shares during the period. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other news, Director Michael E. Maroone purchased 100,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were bought at an average price of $8.61 per share, with a total value of $861,000.00. Following the completion of the transaction, the director now directly owns 154,392 shares in the company, valued at approximately $1,329,315.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, insider Thomas Taira bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was acquired at an average price of $11.13 per share, for a total transaction of $111,300.00. Following the completion of the purchase, the insider now owns 42,518 shares of the company’s stock, valued at $473,225.34. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael E. Maroone purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average price of $8.61 per share, for a total transaction of $861,000.00. Following the transaction, the director now directly owns 154,392 shares in the company, valued at $1,329,315.12. The disclosure for this purchase can be found here. Insiders bought a total of 251,000 shares of company stock valued at $2,065,760 in the last three months. 17.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVNA has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Carvana from an “underweight” rating to a “neutral” rating and set a $20.00 price objective on the stock in a report on Tuesday, November 1st. Morgan Stanley reduced their price target on shares of Carvana from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. Bank Of America (Bofa) cut shares of Carvana to a “neutral” rating in a report on Wednesday, November 30th. William Blair lowered shares of Carvana from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 7th. Finally, Robert W. Baird downgraded shares of Carvana from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 22nd. Two analysts have rated the stock with a sell rating, twenty have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus target price of $43.65.

Carvana Stock Performance

Shares of Carvana stock opened at $6.38 on Friday. The company has a quick ratio of 1.01, a current ratio of 2.38 and a debt-to-equity ratio of 17.69. Carvana Co. has a 52 week low of $3.55 and a 52 week high of $175.40. The firm’s 50 day moving average is $6.18 and its two-hundred day moving average is $19.98. The firm has a market capitalization of $1.20 billion, a P/E ratio of -0.71 and a beta of 2.41.

Carvana (NYSE:CVNAGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($2.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.65). Carvana had a negative net margin of 5.99% and a negative return on equity of 191.74%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.64 billion. Research analysts forecast that Carvana Co. will post -9.88 EPS for the current fiscal year.

Carvana Profile

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Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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