Benjamin F. Edwards & Company Inc. Makes New $51,000 Investment in Carvana Co. (NYSE:CVNA)

Benjamin F. Edwards & Company Inc. bought a new position in shares of Carvana Co. (NYSE:CVNA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 395 shares of the company’s stock, valued at approximately $51,000.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Carvana during the 2nd quarter valued at $39,997,000. First Trust Advisors LP lifted its holdings in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Finally, Perbak Capital Partners LLP purchased a new stake in shares of Carvana during the 1st quarter valued at $8,285,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.51, for a total transaction of $17,051,000.00. Following the sale, the insider now directly owns 39,458,131 shares in the company, valued at approximately $6,728,005,916.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the sale, the insider now directly owns 328,329 shares in the company, valued at approximately $57,457,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00. Following the sale, the insider now owns 39,458,131 shares in the company, valued at $6,728,005,916.81. The disclosure for this sale can be found here. Insiders have sold 2,616,866 shares of company stock worth $374,145,934 in the last ninety days. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $169.72 on Friday. The business’s 50-day moving average is $146.68 and its two-hundred day moving average is $118.27. The company has a market capitalization of $34.38 billion, a P/E ratio of 74.44 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $176.33.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. Research analysts predict that Carvana Co. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a report on Monday, September 9th. Piper Sandler upped their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen upped their target price on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research upped their target price on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $155.12.

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.