Penserra Capital Management LLC Sells 1,372 Shares of Carvana Co. (NYSE:CVNA)

Penserra Capital Management LLC lowered its stake in Carvana Co. (NYSE:CVNA - Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,495 shares of the company's stock after selling 1,372 shares during the period. Penserra Capital Management LLC's holdings in Carvana were worth $3,657,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CVNA. Vanguard Group Inc. raised its stake in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Durable Capital Partners LP increased its holdings in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after buying an additional 129,246 shares during the last quarter. Geode Capital Management LLC raised its position in Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after acquiring an additional 75,250 shares in the last quarter. Whale Rock Capital Management LLC lifted its stake in Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after acquiring an additional 278,760 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after acquiring an additional 481,912 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

Shares of NYSE CVNA traded up $4.69 during mid-day trading on Wednesday, hitting $350.61. 1,901,321 shares of the stock were exchanged, compared to its average volume of 3,855,525. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $364.00. The stock's fifty day simple moving average is $312.35 and its two-hundred day simple moving average is $250.78. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a market cap of $75.08 billion, a P/E ratio of 123.02, a PEG ratio of 1.35 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (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 the consensus estimate of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVNA shares. Royal Bank Of Canada increased their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JMP Securities set a $440.00 price target on shares of Carvana and gave the company a "market outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. Finally, Robert W. Baird upped their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $303.59.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 51,380 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the transaction, the chief financial officer directly owned 162,079 shares of the company's stock, valued at approximately $52,842,616.37. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 70,166 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the completion of the sale, the insider directly owned 201,087 shares of the company's stock, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,961 shares of company stock worth $488,853,396 in the last 90 days. Corporate insiders own 17.12% of the company's stock.

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.