Envestnet Asset Management Inc. Has $45.82 Million Holdings in Carvana Co. $CVNA

Envestnet Asset Management Inc. increased its holdings in Carvana Co. (NYSE:CVNA) by 24.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,468 shares of the company’s stock after buying an additional 23,697 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Carvana worth $45,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC raised its position in shares of Carvana by 1,950.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after buying an additional 105,768 shares in the last quarter. Federated Hermes Inc. lifted its stake in Carvana by 124.9% during the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after purchasing an additional 147,683 shares during the last quarter. Hudson Bay Capital Management LP boosted its holdings in shares of Carvana by 158.0% in the 2nd quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after purchasing an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Carvana by 11.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after purchasing an additional 64,424 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Carvana by 89.9% in the 3rd quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after purchasing an additional 17,878 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 1,174 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $447.00, for a total transaction of $524,778.00. Following the completion of the transaction, the insider owned 68,252 shares in the company, valued at approximately $30,508,644. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $393.04, for a total transaction of $393,040.00. Following the completion of the transaction, the vice president owned 37,192 shares in the company, valued at $14,617,943.68. This trade represents a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 419,304 shares of company stock worth $179,171,777. Company insiders own 16.36% of the company’s stock.

Carvana Stock Down 4.8%

Shares of CVNA opened at $391.81 on Wednesday. The stock’s 50-day moving average price is $437.35 and its two-hundred day moving average price is $382.36. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The company has a market capitalization of $85.23 billion, a PE ratio of 89.45, a PEG ratio of 1.00 and a beta of 3.57. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

Analysts Set New Price Targets

CVNA has been the topic of several research analyst reports. Gordon Haskett reduced their price objective on Carvana from $445.00 to $435.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Wedbush raised their price target on shares of Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carvana in a report on Monday, December 29th. BTIG Research increased their price objective on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $474.27.

About Carvana

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.