Edgestream Partners L.P. Makes New $4.17 Million Investment in Carvana Co. $CVNA

Edgestream Partners L.P. acquired a new stake in shares of Carvana Co. (NYSE:CVNA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 12,370 shares of the company’s stock, valued at approximately $4,168,000.

A number of other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its stake in Carvana by 51.4% in the first quarter. Avantax Advisory Services Inc. now owns 1,679 shares of the company’s stock worth $351,000 after buying an additional 570 shares in the last quarter. LPL Financial LLC raised its stake in shares of Carvana by 32.0% during the first quarter. LPL Financial LLC now owns 56,441 shares of the company’s stock worth $11,801,000 after acquiring an additional 13,696 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Carvana in the 1st quarter worth approximately $242,000. Commerce Bank boosted its stake in shares of Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after purchasing an additional 69 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after purchasing an additional 72 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $301.68, for a total value of $9,765,381.60. Following the completion of the transaction, the insider directly owned 115,456 shares of the company’s stock, valued at $34,830,766.08. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the completion of the sale, the insider owned 83,018 shares of the company’s stock, valued at $31,131,750. This trade represents a 15.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 366,452 shares of company stock worth $133,974,140. Company insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CVNA. DA Davidson set a $360.00 price target on shares of Carvana in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Carvana in a report on Friday, November 21st. They set a “buy” rating and a $395.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Finally, Wedbush upgraded shares of Carvana from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Monday, November 24th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $422.10.

Carvana Trading Up 3.3%

NYSE CVNA opened at $394.94 on Thursday. The stock has a market cap of $85.92 billion, a P/E ratio of 90.17, a price-to-earnings-growth ratio of 1.38 and a beta of 3.51. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The stock has a 50 day simple moving average of $345.36 and a two-hundred day simple moving average of $344.35. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Carvana’s revenue was up 54.5% compared to the same quarter last year. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana Profile

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.