Wedmont Private Capital Has $781,000 Position in Carvana Co. $CVNA

Wedmont Private Capital increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 436.6% in the second quarter, HoldingsChannel reports. The firm owned 11,870 shares of the company’s stock after buying an additional 9,658 shares during the period. Wedmont Private Capital’s holdings in Carvana were worth $781,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CVNA. Ascentis Independent Advisors bought a new stake in Carvana in the first quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the period. Transamerica Financial Advisors LLC increased its holdings in shares of Carvana by 558.0% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after acquiring an additional 385 shares during the last quarter. Motiv8 Investments LLC acquired a new position in shares of Carvana during the 4th quarter worth approximately $33,000. Finally, GoalVest Advisory LLC raised its stake in Carvana by 400.0% in the 2nd quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group cut their price target on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Hovde Group increased their price objective on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research report on Tuesday, August 4th. BNP Paribas Exane cut their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Weiss Ratings raised shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp decreased their price target on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average price target of $84.14.

Carvana Trading Down 1.6%

CVNA stock opened at $73.49 on Thursday. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a market capitalization of $80.87 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. The company’s 50-day simple moving average is $69.40 and its 200 day simple moving average is $68.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm earned $1.51 earnings per share. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $357,750.00. Following the completion of the sale, the vice president directly owned 128,886 shares in the company, valued at approximately $9,221,793.30. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin Huston sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the transaction, the chief operating officer owned 478,693 shares in the company, valued at $34,250,484.15. The trade was a 9.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 400,775 shares of company stock valued at $27,522,038 over the last ninety days. 15.19% of the stock is owned by corporate insiders.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.