Hemington Wealth Management Sells 189 Shares of Carvana Co. (NYSE:CVNA)

Hemington Wealth Management lowered its holdings in shares of Carvana Co. (NYSE:CVNA) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC bought a new position in shares of Carvana during the 4th quarter valued at $28,000. ORG Wealth Partners LLC bought a new stake in Carvana in the 4th quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Carvana in the 3rd quarter worth about $40,000. Versant Capital Management Inc purchased a new position in Carvana during the 4th quarter valued at about $42,000. Finally, First Horizon Advisors Inc. lifted its position in Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after acquiring an additional 196 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,207 shares of company stock worth $31,110,504 over the last three months. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Performance

CVNA opened at $267.97 on Thursday. The firm has a market cap of $55.64 billion, a P/E ratio of 26,823.82 and a beta of 3.37. Carvana Co. has a 1-year low of $48.15 and a 1-year high of $272.96. The company has a 50 day simple moving average of $231.41 and a two-hundred day simple moving average of $201.73. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Analysts Set New Price Targets

Several brokerages have issued reports on CVNA. JPMorgan Chase & Co. lifted their target price on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Carvana in a report on Tuesday, January 7th. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average price target of $249.29.

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.