Concurrent Investment Advisors LLC Buys 1,078 Shares of Carvana Co. (NYSE:CVNA)

Concurrent Investment Advisors LLC increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,199 shares of the company’s stock after acquiring an additional 1,078 shares during the period. Concurrent Investment Advisors LLC’s holdings in Carvana were worth $2,684,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Bleakley Financial Group LLC grew its position in Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares during the last quarter. Forum Financial Management LP grew its position in Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the last quarter. Global Retirement Partners LLC grew its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Carvana by 0.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock worth $5,657,000 after acquiring an additional 86 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Carvana by 37.6% in the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after buying an additional 88 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVNA shares. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday. Citigroup increased their price objective on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler increased their price objective on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price objective on Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Finally, DA Davidson increased their price objective on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $265.06.

Carvana Stock Performance

Shares of Carvana stock opened at $223.14 on Friday. The company has a market capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. Carvana Co. has a 12 month low of $49.38 and a 12 month high of $292.84. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock’s fifty day simple moving average is $234.35 and its 200 day simple moving average is $207.79.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%. On average, research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

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.