Arista Wealth Management LLC Buys Shares of 1,752 Carvana Co. $CVNA

Arista Wealth Management LLC bought a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,752 shares of the company’s stock, valued at approximately $590,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in shares of Carvana in the 2nd quarter worth approximately $25,000. Brooklyn Investment Group lifted 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 worth $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the 1st quarter worth approximately $33,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Carvana in the 2nd quarter worth approximately $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVNA. Bank of America upped their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Jefferies Financial Group set a $475.00 target price on shares of Carvana and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada upped their target price on shares of Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Citigroup reaffirmed a “buy” rating on shares of Carvana in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $407.44.

Carvana Trading Down 3.3%

NYSE CVNA opened at $333.28 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The firm’s fifty day moving average price is $364.10 and its 200 day moving average price is $319.28. The company has a market capitalization of $71.72 billion, a price-to-earnings ratio of 83.53, a price-to-earnings-growth ratio of 1.12 and a beta of 3.55. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company’s revenue was up 41.9% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 80,000 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the sale, the insider owned 197,832 shares in the company, valued at $78,917,163.12. This represents a 28.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the sale, the insider owned 6,624 shares of the company’s stock, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,678,292 shares of company stock valued at $608,812,907 in the last ninety days. Insiders own 17.12% of the company’s stock.

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.