Vestmark Advisory Solutions Inc. Invests $583,000 in Carvana Co. $CVNA

Vestmark Advisory Solutions Inc. bought a new position in shares of Carvana Co. (NYSE:CVNA) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,730 shares of the company’s stock, valued at approximately $583,000.

Other large investors have also recently bought and sold shares of the company. Hilltop National Bank purchased a new position in Carvana during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana in the first quarter worth $33,000. SJS Investment Consulting Inc. raised its holdings in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Carvana during the second quarter valued at $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price target on shares of Carvana in a research report on Thursday, October 30th. Evercore ISI lowered their target price on Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. BTIG Research reiterated a “buy” rating and set a $450.00 price target on shares of Carvana in a research report on Thursday, October 30th. Citigroup decreased their price target on Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Finally, Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $414.16.

Insider Activity

In related news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $305.00, for a total value of $305,000.00. Following the completion of the transaction, the vice president directly owned 41,868 shares of the company’s stock, valued at approximately $12,769,740. This represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory B. Sullivan sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $322.20, for a total transaction of $805,500.00. Following the sale, the director directly owned 41,928 shares of the company’s stock, valued at $13,509,201.60. The trade was a 5.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 423,000 shares of company stock valued at $153,774,383 in the last three months. Company insiders own 16.36% of the company’s stock.

Carvana Stock Up 1.4%

Shares of NYSE CVNA opened at $326.72 on Wednesday. The firm has a market cap of $71.07 billion, a price-to-earnings ratio of 74.59, a price-to-earnings-growth ratio of 1.17 and a beta of 3.50. The company’s 50-day simple moving average is $354.72 and its 200-day simple moving average is $336.62. 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 52-week low of $148.25 and a 52-week high of $413.33.

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

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.