Larson Financial Group LLC Makes New Investment in Carvana Co. (NYSE:CVNA)

Larson Financial Group LLC acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 1,249 shares of the company’s stock, valued at approximately $217,000.

Other large investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the third quarter worth approximately $32,000. Summit Securities Group LLC lifted its position in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Carvana during the third quarter worth approximately $40,000. Finally, Fifth Third Bancorp lifted its position in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVNA has been the topic of a number of research reports. Robert W. Baird upped their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler upped their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BTIG Research upped their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, TD Cowen increased their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $217.71.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider now directly owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. This trade represents a 8.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,218,063 shares of company stock valued at $404,865,579 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Down 0.5 %

Shares of NYSE:CVNA opened at $254.84 on Thursday. The company has a 50 day moving average price of $208.11 and a two-hundred day moving average price of $156.73. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $268.34. The company has a market capitalization of $52.91 billion, a PE ratio of 25,301.00 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 31.8% on a year-over-year basis. Analysts forecast that Carvana Co. will post 0.76 earnings per share for the current year.

About Carvana

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.