Hemington Wealth Management Has $322,000 Stock Position in Carvana Co. (NYSE:CVNA)

Hemington Wealth Management lowered its stake in shares of Carvana Co. (NYSE:CVNA) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,585 shares of the company’s stock after selling 189 shares during the period. Hemington Wealth Management’s holdings in Carvana were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. acquired a new position in shares of Carvana during the third quarter valued at about $50,531,000. Oak Thistle LLC raised its holdings in shares of Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after purchasing an additional 95,497 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Carvana during the fourth quarter valued at about $609,000. Finally, Calamos Advisors LLC acquired a new position in shares of Carvana during the fourth quarter valued at about $1,106,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

NYSE CVNA opened at $267.97 on Thursday. Carvana Co. has a 1 year low of $48.15 and a 1 year high of $272.96. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The stock has a market capitalization of $55.64 billion, a PE ratio of 26,823.82 and a beta of 3.37. The company’s 50 day simple moving average is $231.41 and its two-hundred day simple moving average is $201.73.

Analyst Upgrades and Downgrades

CVNA has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Carvana in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Carvana in a research report on Tuesday, January 7th. Finally, Robert W. Baird increased their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Insiders Place Their Bets

In other news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on 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 owns 189,761 shares in the company, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,207 shares of company stock worth $31,110,504 in the last three months. 17.12% of the stock is currently owned by corporate 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.