Carvana Co. $CVNA Shares Acquired by Friedenthal Financial

Friedenthal Financial increased its stake in shares of Carvana Co. (NYSE:CVNA) by 7,231.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,566 shares of the company’s stock after buying an additional 2,531 shares during the quarter. Friedenthal Financial’s holdings in Carvana were worth $968,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Warren Street Wealth Advisors LLC boosted its holdings in shares of Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after acquiring an additional 31 shares during the period. MAI Capital Management lifted its position in Carvana by 1.8% in the 2nd quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after purchasing an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares during the period. Kingsview Wealth Management LLC grew its position in Carvana by 1.2% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company’s stock worth $1,554,000 after purchasing an additional 53 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Carvana by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after purchasing an additional 60 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVNA. Stephens reissued an “overweight” rating and issued a $440.00 price objective on shares of Carvana in a report on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Carvana in a research note on Friday, November 21st. They issued a “buy” rating and a $395.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $500.00 price objective on shares of Carvana in a research note on Monday, November 17th. DA Davidson set a $360.00 price objective on shares of Carvana in a report on Thursday, October 30th. Finally, Wedbush raised their target price on shares of Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $446.32.

Insider Buying and Selling at Carvana

In related news, insider Daniel J. Gill sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares in the company, valued at approximately $90,821,215.44. This trade represents a 17.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael E. Maroone sold 30,928 shares of Carvana stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the transaction, the director owned 143,573 shares in the company, valued at approximately $57,478,014.82. This trade represents a 17.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 564,332 shares of company stock valued at $228,630,102. Corporate insiders own 16.36% of the company’s stock.

Carvana Trading Up 0.9%

Shares of CVNA stock opened at $437.41 on Wednesday. The stock has a 50-day simple moving average of $367.08 and a 200 day simple moving average of $356.97. The stock has a market capitalization of $95.16 billion, a P/E ratio of 99.87, a P/E/G ratio of 1.41 and a beta of 3.51. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $485.33. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue was up 54.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.