Clarity Wealth Advisors LLC Purchases New Holdings in Carvana Co. (NYSE:CVNA)

Clarity Wealth Advisors LLC bought a new stake in shares of Carvana Co. (NYSE:CVNA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,391 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares in the last quarter. Tidal Investments LLC purchased a new position in Carvana in the 1st quarter worth about $1,783,000. US Bancorp DE lifted its stake in Carvana by 724.5% during the 1st quarter. US Bancorp DE now owns 5,549 shares of the company’s stock valued at $488,000 after acquiring an additional 4,876 shares during the period. Finally, CWM LLC boosted its holdings in shares of Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $125.21, for a total transaction of $9,390,750.00. Following the completion of the sale, the insider now directly owns 1,940,814 shares of the company’s stock, valued at $243,009,320.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Daniel J. Gill sold 30,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $175.00, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $125.21, for a total transaction of $9,390,750.00. Following the completion of the transaction, the insider now owns 1,940,814 shares of the company’s stock, valued at $243,009,320.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,809,366 shares of company stock worth $446,050,909 in the last three months. Corporate insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVNA shares. Morgan Stanley boosted their price objective on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Needham & Company LLC increased their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Evercore ISI reaffirmed an “in-line” rating and set a $178.00 target price on shares of Carvana in a report on Thursday, September 26th. Finally, Wedbush lifted their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $171.76.

Carvana Trading Down 0.3 %

NYSE:CVNA traded down $0.61 during mid-day trading on Friday, hitting $191.31. 1,923,048 shares of the stock traded hands, compared to its average volume of 4,862,900. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The stock has a market capitalization of $38.75 billion, a price-to-earnings ratio of 83.91 and a beta of 3.44. Carvana Co. has a 52 week low of $25.09 and a 52 week high of $196.36. The firm’s 50 day moving average is $162.78 and its two-hundred day moving average is $128.85.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities research analysts predict that Carvana Co. will post 0.29 earnings per share for the current year.

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.