Rialto Wealth Management LLC Purchases New Shares in Carvana Co. (NYSE:CVNA)

Rialto Wealth Management LLC acquired a new position in Carvana Co. (NYSE:CVNA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 154 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC purchased a new position in Carvana during the third quarter valued at $162,953,000. Lord Abbett & CO. LLC boosted its holdings in Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after acquiring an additional 503,824 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Carvana in the fourth quarter worth $60,866,000. Finally, Eagle Asset Management Inc. bought a new position in shares of Carvana during the third quarter valued at $50,531,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 0.7 %

Shares of Carvana stock opened at $188.19 on Monday. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company’s fifty day simple moving average is $231.41 and its 200-day simple moving average is $213.67. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, Director Ira J. Platt sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the sale, the director now directly owns 5,227 shares of the company’s stock, valued at $1,276,956.10. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $275.68, for a total value of $5,513,600.00. Following the completion of the transaction, the chief financial officer now directly owns 199,962 shares of the company’s stock, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,629 shares of company stock valued at $30,866,419. 17.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVNA has been the topic of several recent analyst reports. DA Davidson increased their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup increased their target price on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $265.94.

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.