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

Penserra Capital Management LLC reduced its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in Carvana in the fourth quarter valued at approximately $31,000. Transce3nd LLC acquired a new stake in shares of Carvana in the 4th quarter valued at $48,000. Versant Capital Management Inc lifted its position in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Carvana in the fourth quarter valued at $75,000. Finally, EverSource Wealth Advisors LLC raised its stake in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after buying an additional 74 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVNA shares. Bank of America boosted their target price on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Piper Sandler set a $340.00 price objective on Carvana and gave the stock an "overweight" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. JMP Securities set a $440.00 price target on Carvana and gave the stock a "market outperform" rating in a research note on Wednesday, July 2nd. Finally, Citigroup boosted their price objective on Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of "Moderate Buy" and a consensus target price of $303.59.

Carvana Stock Down 0.8%

Shares of CVNA traded down $2.67 during mid-day trading on Thursday, reaching $348.43. The company's stock had a trading volume of 1,430,976 shares, compared to its average volume of 3,846,263. The company has a market cap of $74.61 billion, a price-to-earnings ratio of 122.46, a price-to-earnings-growth ratio of 1.35 and a beta of 3.59. The business has a fifty day moving average of $312.35 and a 200 day moving average of $250.78. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $364.00.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the sale, the insider directly owned 37,092,317 shares in the company, valued at $12,870,663,075.83. The trade was a 0.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 51,380 shares of the business's stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,506,961 shares of company stock valued at $488,853,396. Corporate insiders own 17.12% of the company's stock.

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.