First Horizon Advisors Inc. Buys 196 Shares of Carvana Co. (NYSE:CVNA)

First Horizon Advisors Inc. lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 363.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250 shares of the company’s stock after acquiring an additional 196 shares during the quarter. First Horizon Advisors Inc.’s holdings in Carvana were worth $44,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP boosted its holdings in shares of Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after buying an additional 76 shares in the last quarter. Empirical Asset Management LLC raised its position in shares of Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after buying an additional 100 shares during the last quarter. CIBC Asset Management Inc lifted its position in Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after buying an additional 115 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares during the period. Finally, CWM LLC lifted its holdings in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $155.69, for a total value of $15,569,000.00. Following the transaction, the insider now directly owns 41,233,131 shares of the company’s stock, valued at approximately $6,419,586,165.39. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the completion of the transaction, the insider now directly owns 119,494 shares in the company, valued at $23,659,812. This represents a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,318,063 shares of company stock worth $420,434,579 over the last ninety days. 17.12% of the stock is currently owned by insiders.

Carvana Stock Up 4.4 %

Carvana stock opened at $259.36 on Monday. The company has a market cap of $53.85 billion, a PE ratio of 25,961.96 and a beta of 3.37. Carvana Co. has a 1-year low of $29.84 and a 1-year high of $263.61. The stock’s 50 day moving average price is $203.96 and its 200 day moving average price is $154.76. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, sell-side analysts predict that Carvana Co. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on CVNA shares. TD Cowen boosted their target price on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Piper Sandler increased their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. DA Davidson boosted their target price on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Stephens initiated coverage on Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $217.71.

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.