Carvana Co. (NYSE:CVNA) Shares Sold by PFG Investments LLC

PFG Investments LLC reduced its stake in shares of Carvana Co. (NYSE:CVNA) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333 shares of the company’s stock after selling 234 shares during the quarter. PFG Investments LLC’s holdings in Carvana were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVNA. Fifth Third Bancorp grew its holdings in shares of Carvana by 37.6% during the fourth quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock worth $65,000 after purchasing an additional 88 shares during the last quarter. Donoghue Forlines LLC acquired a new stake in shares of Carvana in the 4th quarter valued at about $1,731,000. Raleigh Capital Management Inc. grew its stake in Carvana by 1,471.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the company’s stock worth $67,000 after buying an additional 309 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Carvana by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock worth $5,657,000 after buying an additional 86 shares during the period. Finally, Atomi Financial Group Inc. lifted its stake in Carvana by 9.1% in the fourth quarter. Atomi Financial Group Inc. now owns 1,805 shares of the company’s stock valued at $367,000 after buying an additional 151 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA opened at $247.76 on Friday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The company has a 50-day simple moving average of $230.58 and a 200-day simple moving average of $193.93. The company has a market capitalization of $51.44 billion, a PE ratio of 24,800.30 and a beta of 3.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. Equities research analysts predict that Carvana Co. will post 0.88 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the completion of the transaction, the chief financial officer now directly owns 170,732 shares of the company’s stock, valued at $41,279,582.96. This trade represents a 10.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 347,340 shares of company stock valued at $81,044,588 in the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVNA. Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $270.00 to $280.00 in a report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Robert W. Baird increased their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Finally, Evercore ISI upped their price objective on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.88.

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.