Atria Investments Inc Increases Holdings in Carvana Co. $CVNA

Atria Investments Inc increased its position in shares of Carvana Co. (NYSE:CVNA) by 162.1% in the third quarter, HoldingsChannel reports. The firm owned 5,788 shares of the company’s stock after acquiring an additional 3,580 shares during the quarter. Atria Investments Inc’s holdings in Carvana were worth $2,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SJS Investment Consulting Inc. lifted its stake in Carvana by 28.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after acquiring an additional 30 shares during the period. MAI Capital Management lifted its position in Carvana by 1.8% during the second 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 period. MassMutual Private Wealth & Trust FSB boosted its holdings in Carvana by 23.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after purchasing an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after purchasing an additional 31 shares during the period. Finally, WPG Advisers LLC grew its position in Carvana by 17.2% during the 3rd quarter. WPG Advisers LLC now owns 218 shares of the company’s stock worth $82,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVNA. Citigroup upped their target price on Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Evercore raised their target price on Carvana from $425.00 to $430.00 in a research report on Tuesday, January 27th. Stephens upped their price target on Carvana from $454.00 to $519.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Jefferies Financial Group increased their price target on Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $474.27.

Carvana Price Performance

NYSE:CVNA opened at $343.31 on Tuesday. The stock has a 50 day moving average price of $432.45 and a 200 day moving average price of $382.37. The stock has a market cap of $74.68 billion, a PE ratio of 78.38 and a beta of 3.57. 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 Co. has a one year low of $148.25 and a one year high of $486.89.

Insider Buying and Selling at Carvana

In other Carvana news, Director Michael E. Maroone sold 30,928 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total value of $12,381,715.52. Following the transaction, the director directly owned 143,573 shares in the company, valued at $57,478,014.82. The trade was a 17.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 20,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $438.50, for a total transaction of $8,770,000.00. Following the completion of the sale, the insider directly owned 69,289 shares of the company’s stock, valued at approximately $30,383,226.50. This trade represents a 22.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 420,351 shares of company stock worth $179,589,049. Corporate insiders own 16.36% of the company’s stock.

Carvana 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.