Carvana Co. (NYSE:CVNA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Carvana Co. (NYSE:CVNA) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,738 shares of the company’s stock after selling 574 shares during the quarter. Principal Financial Group Inc.’s holdings in Carvana were worth $1,347,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVNA. Eagle Asset Management Inc. acquired a new position in Carvana during the 3rd quarter worth approximately $50,531,000. Driehaus Capital Management LLC boosted its stake in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares in the last quarter. Swiss National Bank grew its holdings in Carvana by 6.9% during the third quarter. Swiss National Bank now owns 207,900 shares of the company’s stock worth $36,197,000 after acquiring an additional 13,400 shares during the period. Integrated Advisors Network LLC raised its position in Carvana by 89.2% in the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after acquiring an additional 24,996 shares in the last quarter. Finally, Colonial River Investments LLC acquired a new stake in Carvana in the third quarter valued at $786,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVNA shares. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Wedbush increased their target price on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Bank of America boosted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI upped their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana has an average rating of “Hold” and an average price target of $229.18.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 208,495 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the transaction, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This trade represents a 69.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,251,908 shares of company stock worth $255,943,285 in the last ninety days. Insiders own 17.18% of the company’s stock.

Carvana Trading Down 11.2 %

Shares of Carvana stock opened at $177.16 on Friday. The business’s fifty day moving average is $236.67 and its two-hundred day moving average is $180.94. 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 fifty-two week low of $40.21 and a fifty-two week high of $268.34. The firm has a market cap of $36.78 billion, a PE ratio of 17,733.73 and a beta of 3.32.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the business posted $0.23 earnings per share. Carvana’s revenue was up 31.8% on a year-over-year basis. Analysts anticipate that Carvana Co. will post 0.76 earnings per share for the current year.

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.