Wedmont Private Capital Invests $307,000 in Carvana Co. (NYSE:CVNA)

Wedmont Private Capital bought a new stake in shares of Carvana Co. (NYSE:CVNA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,491 shares of the company’s stock, valued at approximately $307,000.

A number of other large investors also recently added to or reduced their stakes in the business. Quent Capital LLC bought a new position in shares of Carvana during the fourth quarter valued at about $28,000. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth approximately $31,000. Venturi Wealth Management LLC grew its position in Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after acquiring an additional 99 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in Carvana in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $330.27, for a total transaction of $16,513,500.00. Following the sale, the insider now owns 36,992,317 shares in the company, valued at $12,217,452,535.59. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan S. Keeton sold 11,276 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $340.68, for a total transaction of $3,841,507.68. Following the sale, the insider now directly owns 136,628 shares of the company’s stock, valued at $46,546,427.04. This trade represents a 7.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,321,046 shares of company stock valued at $388,900,133. Insiders own 17.12% of the company’s stock.

Carvana Price Performance

CVNA opened at $340.00 on Thursday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $72.81 billion, a price-to-earnings ratio of 216.56 and a beta of 3.65. The stock has a fifty day simple moving average of $267.47 and a two-hundred day simple moving average of $240.37. Carvana Co. has a 12-month low of $100.05 and a 12-month high of $351.43.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVNA. Morgan Stanley increased their price objective on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. dropped their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Royal Bank of Canada upped their price objective on shares of Carvana from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Citigroup increased their target price on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.35.

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.