Clarity Wealth Advisors LLC Purchases Shares of 1,391 Carvana Co. (NYSE:CVNA)

Clarity Wealth Advisors LLC bought a new stake in Carvana Co. (NYSE:CVNA) during the third quarter, HoldingsChannel reports. The fund bought 1,391 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVNA. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana during the 3rd quarter worth about $32,000. Ridgewood Investments LLC purchased a new stake in shares of Carvana in the second quarter valued at approximately $32,000. Summit Securities Group LLC raised its stake in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp lifted its position in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana in the 2nd quarter worth $51,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Down 0.3 %

NYSE CVNA traded down $0.61 on Friday, reaching $191.31. The stock had a trading volume of 1,923,048 shares, 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 fifty day moving average price of $162.78 and a two-hundred day moving average price of $128.85. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $196.36. The firm has a market capitalization of $38.75 billion, a price-to-earnings ratio of 83.91 and a beta of 3.44.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. As a group, sell-side analysts forecast that Carvana Co. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVNA. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and lifted their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Morgan Stanley raised their target price on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. DA Davidson increased their price objective on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Stephens assumed coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective on the stock. Finally, TD Cowen upped their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $171.76.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $130.75, for a total value of $9,806,250.00. Following the completion of the transaction, the insider now directly owns 2,090,814 shares in the company, valued at approximately $273,373,930.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $130.75, for a total value of $9,806,250.00. Following the completion of the transaction, the insider now owns 2,090,814 shares in the company, valued at $273,373,930.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira J. Platt sold 12,178 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total transaction of $1,587,158.74. Following the completion of the sale, the director now directly owns 43,229 shares in the company, valued at approximately $5,634,035.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,809,366 shares of company stock valued at $446,050,909 in the last 90 days. Company insiders own 17.12% of the company’s stock.

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.