Navellier & Associates Inc. Has $5.67 Million Stock Holdings in Carvana Co. $CVNA

Navellier & Associates Inc. lifted its stake in Carvana Co. (NYSE:CVNA) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,036 shares of the company’s stock after purchasing an additional 1,285 shares during the period. Navellier & Associates Inc.’s holdings in Carvana were worth $5,672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CVNA. ORG Partners LLC increased its holdings in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after acquiring an additional 87 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Carvana in the third quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Carvana during the 2nd quarter worth about $38,000. LRI Investments LLC bought a new position in shares of Carvana in the 2nd quarter valued at about $42,000. Finally, SJS Investment Consulting Inc. boosted its position in Carvana by 28.3% during the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVNA. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a report on Monday, December 29th. BTIG Research upped their target price on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Gordon Haskett reduced their price target on Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a report on Monday, January 5th. Wells Fargo & Company boosted their price target on Carvana from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Finally, Bank of America raised their price objective on Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $474.27.

Carvana Stock Up 1.9%

Shares of CVNA opened at $411.41 on Tuesday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The firm’s 50 day moving average is $437.17 and its 200-day moving average is $381.94. The stock has a market capitalization of $89.50 billion, a PE ratio of 93.93, a P/E/G ratio of 0.99 and a beta of 3.57.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $410.19, for a total value of $5,229,922.50. Following the transaction, the chief financial officer owned 202,817 shares in the company, valued at approximately $83,193,505.23. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 40,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the transaction, the insider directly owned 191,106 shares in the company, valued at approximately $90,821,215.44. This represents a 17.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 421,804 shares of company stock worth $180,021,777 in the last quarter. 16.36% of the stock is currently owned by corporate insiders.

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.