Carvana Co. (NYSE:CVNA) Shares Sold by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC lessened its holdings in Carvana Co. (NYSE:CVNA) by 5.7% during the 4th quarter, HoldingsChannel.com reports. The firm 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 quarter.

Other large investors have also modified their holdings of the company. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana during the 3rd quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the 4th quarter valued at about $34,000. Capital Performance Advisors LLP bought a new stake in Carvana during the third quarter worth approximately $40,000. Versant Capital Management Inc bought a new position in Carvana in the fourth quarter worth $42,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Carvana by 363.0% in the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group lifted their target price on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Wedbush lifted their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company lowered their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $244.88.

Carvana Stock Up 1.8 %

CVNA stock opened at $251.81 on Tuesday. The firm’s 50 day moving average price is $230.40 and its 200-day moving average price is $195.56. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a market cap of $52.28 billion, a PE ratio of 25,206.31 and a beta of 3.38. Carvana Co. has a one year low of $41.75 and a one year high of $268.34.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the transaction, the director now directly owns 5,227 shares of the company’s stock, valued at $1,276,956.10. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,845 shares of company stock valued at $33,077,056 over the last 90 days. 17.12% of the stock is owned by company insiders.

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.