Ashton Thomas Private Wealth LLC Buys 1,209 Shares of Carvana Co. (NYSE:CVNA)

Ashton Thomas Private Wealth LLC grew its stake in Carvana Co. (NYSE:CVNA) by 999.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,330 shares of the company’s stock after purchasing an additional 1,209 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Carvana were worth $232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVNA. Sumitomo Mitsui Trust Group Inc. bought a new stake in Carvana in the 3rd quarter valued at $439,000. Entropy Technologies LP increased its stake in Carvana by 428.5% in the third quarter. Entropy Technologies LP now owns 23,541 shares of the company’s stock valued at $4,099,000 after acquiring an additional 19,087 shares during the period. State of New Jersey Common Pension Fund D raised its position in Carvana by 5.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 39,281 shares of the company’s stock worth $6,839,000 after purchasing an additional 2,004 shares in the last quarter. Colonial River Investments LLC bought a new position in Carvana during the third quarter worth about $786,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Carvana during the third quarter valued at approximately $784,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of NYSE CVNA opened at $241.03 on Friday. The firm has a market cap of $50.05 billion, a P/E ratio of 24,127.13 and a beta of 3.37. The business’s 50 day moving average is $192.70 and its 200-day moving average is $149.25. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 1-year low of $29.84 and a 1-year high of $259.39.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities research analysts predict that Carvana Co. will post 0.62 earnings per share for the current year.

Insider Activity

In related news, insider Paul W. Breaux sold 14,548 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the completion of the sale, the insider now owns 119,494 shares of the company’s stock, valued at $23,659,812. This represents a 10.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares in the company, valued at $20,362,982.76. This trade represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,627,249 shares of company stock worth $468,516,322. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Needham & Company LLC raised their target price on Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and boosted their target price for the company from $166.00 to $170.00 in a research note on Monday, August 19th. JMP Securities upped their target price on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $217.71.

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.