Penserra Capital Management LLC Has $3.66 Million Stake in Carvana Co. (NYSE:CVNA)

Penserra Capital Management LLC lessened its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after purchasing an additional 39,089 shares during the last quarter. J.Safra Asset Management Corp lifted its position in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Carvana during the 4th quarter worth about $60,866,000. Worldquant Millennium Advisors LLC acquired a new position in shares of Carvana during the 4th quarter worth about $51,091,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $340.07, for a total transaction of $17,003,500.00. Following the completion of the sale, the insider directly owned 36,637,346 shares of the company's stock, valued at $12,459,262,254.22. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $338.36, for a total value of $4,314,090.00. Following the sale, the chief financial officer directly owned 211,020 shares of the company's stock, valued at approximately $71,400,727.20. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,379,861 shares of company stock valued at $443,986,545 in the last three months. 16.36% of the stock is currently owned by company insiders.

Carvana Price Performance

CVNA stock traded down $11.42 during trading on Tuesday, hitting $345.90. The company had a trading volume of 2,830,933 shares, compared to its average volume of 3,858,583. The company has a fifty day moving average price of $308.18 and a two-hundred day moving average price of $249.42. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The company has a market cap of $74.07 billion, a P/E ratio of 121.37, a P/E/G ratio of 1.36 and a beta of 3.59. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $363.38.

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. Equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CVNA. Evercore ISI boosted their price objective on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. reduced their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Stephens lifted their price objective on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday. Bank of America lifted their price objective on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada lifted their price objective on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Carvana has an average rating of "Moderate Buy" and a consensus price target of $303.59.

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.