Clay Northam Wealth Management LLC Acquires Shares of 1,750 Carvana Co. (NYSE:CVNA)

Clay Northam Wealth Management LLC acquired a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,750 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVNA. GAMMA Investing LLC grew its holdings in Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after acquiring an additional 257 shares during the period. Hilltop National Bank purchased a new position in shares of Carvana during the 2nd quarter valued at approximately $68,000. Plato Investment Management Ltd acquired a new position in shares of Carvana in the 1st quarter valued at $55,000. J.Safra Asset Management Corp boosted its holdings in Carvana by 570.6% during the second quarter. J.Safra Asset Management Corp now owns 684 shares of the company’s stock worth $88,000 after buying an additional 582 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

CVNA traded up $4.37 during trading on Friday, reaching $155.93. The company’s stock had a trading volume of 3,717,654 shares, compared to its average volume of 5,431,026. The company has a market cap of $31.59 billion, a price-to-earnings ratio of 68.39 and a beta of 3.37. The firm has a fifty day simple moving average of $127.89 and a two-hundred day simple moving average of $99.66. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $156.18. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CVNA shares. Evercore ISI decreased their price objective on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. DA Davidson upped their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, BTIG Research lifted their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $143.73.

Insider Activity at Carvana

In other Carvana news, insider Thomas Taira sold 68,556 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the transaction, the insider now owns 186,397 shares of the company’s stock, valued at $19,150,427.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Thomas Taira sold 68,556 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the completion of the sale, the insider now directly owns 186,397 shares in the company, valued at $19,150,427.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $118.20, for a total transaction of $7,092,000.00. Following the completion of the transaction, the insider now owns 2,317,500 shares in the company, valued at $273,928,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,416,236 shares of company stock valued at $297,840,285. 17.12% of the stock is currently owned by insiders.

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.