Clay Northam Wealth Management LLC Lowers Holdings in Carvana Co. (NYSE:CVNA)

Clay Northam Wealth Management LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,650 shares of the company’s stock after selling 100 shares during the period. Clay Northam Wealth Management LLC’s holdings in Carvana were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVNA. abrdn plc bought a new position in Carvana during the 4th quarter worth approximately $294,000. Chicago Capital LLC lifted its stake in shares of Carvana by 13.2% in the fourth quarter. Chicago Capital LLC now owns 6,109 shares of the company’s stock worth $1,242,000 after buying an additional 710 shares during the last quarter. Precision Wealth Strategies LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $479,000. Waldron Private Wealth LLC boosted its stake in Carvana by 100.3% in the fourth quarter. Waldron Private Wealth LLC now owns 6,180 shares of the company’s stock worth $1,257,000 after purchasing an additional 3,094 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Carvana in the 4th quarter worth $10,862,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

Shares of Carvana stock opened at $251.81 on Tuesday. The company has a 50-day simple moving average of $230.40 and a two-hundred day simple moving average of $195.56. The stock has a market capitalization of $52.28 billion, a price-to-earnings ratio of 25,206.31 and a beta of 3.38. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $41.75 and a twelve month high of $268.34.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,845 shares of company stock worth $33,077,056 in the last quarter. 17.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company dropped their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.88.

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.