Axxcess Wealth Management LLC Has $968,000 Stock Holdings in Carvana Co. (NYSE:CVNA)

Axxcess Wealth Management LLC lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,759 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Carvana were worth $968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVNA. FMR LLC boosted its holdings in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Carvana during the 3rd quarter worth about $162,953,000. Lord Abbett & CO. LLC increased its holdings in shares of Carvana by 1,454.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after acquiring an additional 503,824 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Carvana in the 4th quarter valued at approximately $60,866,000. Finally, Eagle Asset Management Inc. acquired a new stake in Carvana in the 3rd quarter worth approximately $50,531,000. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stephens reiterated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Finally, Bank of America dropped their price objective on Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Carvana Trading Up 5.3 %

Shares of CVNA stock opened at $185.41 on Friday. The firm has a fifty day moving average of $227.61 and a 200-day moving average of $214.18. The stock has a market cap of $39.52 billion, a price-to-earnings ratio of 118.10 and a beta of 3.56. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. 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 (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction 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 represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock worth $27,524,344 in the last 90 days. 17.12% of the stock is owned by company insiders.

Carvana Profile

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.