Rialto Wealth Management LLC Takes $31,000 Position in Carvana Co. (NYSE:CVNA)

Rialto Wealth Management LLC bought a new position in Carvana Co. (NYSE:CVNA) during the 4th quarter, Holdings Channel reports. The fund bought 154 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. increased its stake in Carvana by 4.8% in the 4th quarter. Edgestream Partners L.P. now owns 25,318 shares of the company’s stock worth $5,149,000 after acquiring an additional 1,161 shares during the last quarter. Candriam S.C.A. purchased a new position in shares of Carvana in the fourth quarter valued at $1,526,000. Raymond James Financial Inc. bought a new stake in Carvana in the fourth quarter worth $60,866,000. Arizona State Retirement System raised its stake in Carvana by 9.2% during the fourth quarter. Arizona State Retirement System now owns 33,086 shares of the company’s stock valued at $6,728,000 after purchasing an additional 2,780 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Carvana during the fourth quarter valued at $23,655,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares of the company’s stock, valued at $37,440,089.10. The trade was a 14.13 % 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, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,629 shares of company stock valued at $30,866,419 over the last three months. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Robert W. Baird upped their target price on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Bank of America upped their price objective on Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI increased their price target on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.94.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $188.19 on Monday. The firm’s 50 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 quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The firm has a market cap of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Carvana Co. will post 2.85 EPS for the current year.

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.