Prospera Financial Services Inc Purchases 2,183 Shares of Carvana Co. $CVNA

Prospera Financial Services Inc lifted its position in shares of Carvana Co. (NYSE:CVNA) by 84.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,757 shares of the company’s stock after acquiring an additional 2,183 shares during the quarter. Prospera Financial Services Inc’s holdings in Carvana were worth $1,603,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Carvana by 30.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock worth $9,617,000 after acquiring an additional 10,753 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Carvana in the 1st quarter worth $359,000. Arizona State Retirement System grew its stake in shares of Carvana by 1.1% during the first quarter. Arizona State Retirement System now owns 33,446 shares of the company’s stock worth $6,993,000 after purchasing an additional 360 shares during the period. Stephens Inc. AR acquired a new stake in shares of Carvana during the first quarter worth $303,000. Finally, Florida Financial Advisors LLC bought a new stake in Carvana in the first quarter valued at about $304,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity

In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total value of $5,625,000.00. Following the transaction, the insider owned 83,018 shares in the company, valued at approximately $31,131,750. The trade was a 15.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the sale, the insider owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. This trade represents a 21.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 423,000 shares of company stock worth $153,774,383. 16.36% of the stock is owned by insiders.

Carvana Stock Performance

NYSE CVNA opened at $326.72 on Wednesday. The company has a market capitalization of $71.07 billion, a price-to-earnings ratio of 74.59, a PEG ratio of 1.17 and a beta of 3.50. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The stock has a fifty day simple moving average of $354.72 and a 200 day simple moving average of $336.62.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 54.5% on a year-over-year basis. Sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CVNA. JMP Securities upped their price target on Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. DA Davidson set a $360.00 price target on Carvana in a research note on Thursday, October 30th. Piper Sandler increased their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their price target on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, BTIG Research reiterated a “buy” rating and issued a $450.00 target price on shares of Carvana in a research note on Thursday, October 30th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $414.16.

Carvana Company 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.