1,750 Shares in Carvana Co. (NYSE:CVNA) Bought by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC acquired a new position in Carvana Co. (NYSE:CVNA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,750 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVNA. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Carvana during the second quarter valued at approximately $39,997,000. First Trust Advisors LP boosted its position in shares of Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Finally, Steadview Capital Management LLC grew its stake in shares of Carvana by 15.6% in the 4th quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock worth $46,423,000 after buying an additional 118,500 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA traded up $4.37 during trading hours on Friday, hitting $155.93. The stock had a trading volume of 3,717,654 shares, compared to its average volume of 5,431,026. The firm has a market capitalization of $31.59 billion, a PE ratio of 68.39 and a beta of 3.37. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. Carvana Co. has a 12 month low of $25.09 and a 12 month high of $156.18. The stock has a fifty day moving average price of $127.89 and a 200 day moving average price of $99.66.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JMP Securities lifted their price objective on Carvana from $150.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Piper Sandler increased their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI decreased their target price on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price target on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $143.73.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.25, for a total transaction of $496,250.00. Following the completion of the sale, the chief financial officer now owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $99.25, for a total transaction of $496,250.00. Following the completion of the sale, the chief financial officer now owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $118.20, for a total value of $7,092,000.00. Following the completion of the transaction, the insider now directly owns 2,317,500 shares in the company, valued at $273,928,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,416,236 shares of company stock valued at $297,840,285. Insiders own 17.12% of the company’s stock.

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.