Carvana Co. (NYSE:CVNA) Stock Position Reduced by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 38.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,173 shares of the company's stock after selling 9,341 shares during the period. ProShare Advisors LLC's holdings in Carvana were worth $3,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVNA. Quent Capital LLC purchased a new position in Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Carvana during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC grew its position in Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after purchasing an additional 99 shares in the last quarter. Finally, Transce3nd LLC purchased a new position in Carvana during the fourth quarter valued at approximately $48,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on CVNA shares. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Bank of America boosted their target price on shares of Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Evercore ISI decreased their target price on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.18.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 65,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $305.00, for a total transaction of $19,825,000.00. Following the completion of the transaction, the insider now directly owns 201,087 shares in the company, valued at $61,331,535. This represents a 24.43% decrease in their position. 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 the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now owns 123,803 shares of the company's stock, valued at approximately $18,681,872.70. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 590,313 shares of company stock worth $145,613,672 in the last ninety days. 17.12% of the stock is currently owned by insiders.

Carvana Price Performance

Shares of Carvana stock opened at $304.92 on Tuesday. The firm has a fifty day simple moving average of $223.22 and a 200-day simple moving average of $230.75. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 1-year low of $97.55 and a 1-year high of $311.88. The stock has a market capitalization of $65.30 billion, a price-to-earnings ratio of 194.22 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business's quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. On average, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

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.

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