Truepoint Inc. Buys Shares of 5,866 Carvana Co. (NYSE:CVNA)

Truepoint Inc. bought a new stake in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,866 shares of the company’s stock, valued at approximately $755,000.

A number of other large investors have also recently bought and sold shares of CVNA. Ridgewood Investments LLC acquired a new stake in Carvana during the 2nd quarter valued at $32,000. Parallel Advisors LLC lifted its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Summit Securities Group LLC lifted its stake in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the period. Fifth Third Bancorp lifted its stake in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Finally, Tidemark LLC purchased a new position in shares of Carvana during the 4th quarter worth $50,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Up 0.7 %

Shares of NYSE CVNA opened at $142.11 on Friday. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $159.85. The company has a market cap of $28.79 billion, a P/E ratio of 61.91 and a beta of 3.37. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The stock has a fifty day moving average price of $138.67 and a 200 day moving average price of $108.89.

Analyst Ratings Changes

A number of brokerages have weighed in on CVNA. Wells Fargo & Company raised 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 note on Thursday, August 1st. Wedbush raised Carvana to a “neutral” rating and increased their price target for the stock from $120.00 to $150.00 in a research note on Monday, August 19th. Royal Bank of Canada raised Carvana to a “sector perform” rating and increased their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. BTIG Research increased their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird initiated coverage on Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $148.40.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the sale, the insider now directly owns 359,370 shares in the company, valued at approximately $53,905,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the insider now directly owns 359,370 shares in the company, valued at $53,905,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $108.04, for a total value of $6,482,400.00. Following the sale, the insider now owns 1,477,500 shares of the company’s stock, valued at $159,629,100. The disclosure for this sale can be found here. In the last three months, insiders sold 2,660,422 shares of company stock worth $352,116,577. Corporate insiders own 17.12% of the company’s stock.

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.