PNC Financial Services Group Inc. Sells 166 Shares of Carvana Co. (NYSE:CVNA)

PNC Financial Services Group Inc. decreased its holdings in shares of Carvana Co. (NYSE:CVNA) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,155 shares of the company’s stock after selling 166 shares during the period. PNC Financial Services Group Inc.’s holdings in Carvana were worth $438,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CVNA. Edgestream Partners L.P. increased its stake in Carvana by 4.8% in the fourth quarter. Edgestream Partners L.P. now owns 25,318 shares of the company’s stock valued at $5,149,000 after purchasing an additional 1,161 shares in the last quarter. Candriam S.C.A. acquired a new stake in shares of Carvana in the 4th quarter valued at about $1,526,000. Raymond James Financial Inc. bought a new stake in Carvana in the 4th quarter valued at about $60,866,000. Arizona State Retirement System raised its stake in Carvana by 9.2% during the 4th quarter. Arizona State Retirement System now owns 33,086 shares of the company’s stock worth $6,728,000 after buying an additional 2,780 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Carvana in the fourth quarter worth approximately $23,655,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,784 shares of company stock valued at $27,524,344. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of NYSE:CVNA opened at $185.41 on Friday. The company has a market capitalization of $39.52 billion, a P/E ratio of 118.10 and a beta of 3.56. The company’s 50-day moving average is $227.61 and its 200 day moving average is $214.18. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Robert W. Baird upped their target price on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Evercore ISI dropped their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Bank of America cut their price target on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $262.71.

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.