Principal Financial Group Inc. Has $1.24 Million Stake in Carvana Co. (NYSE:CVNA)

Principal Financial Group Inc. decreased its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,938 shares of the company's stock after selling 819 shares during the period. Principal Financial Group Inc.'s holdings in Carvana were worth $1,242,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Durable Capital Partners LP increased its stake in Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares during the period. Geode Capital Management LLC grew its stake in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Carvana by 29.8% in the 4th 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 increased its holdings in shares of Carvana by 89.8% in the 4th 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. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 70,166 shares of Carvana stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value 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 trade represents a 25.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 51,380 shares of Carvana stock in a transaction 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 $52,842,616.37. This trade represents a 24.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,051,515 shares of company stock valued at $678,916,748. 16.36% of the stock is currently owned by corporate insiders.

Carvana Stock Up 1.0%

Shares of NYSE CVNA traded up $3.31 during mid-day trading on Tuesday, reaching $345.23. The company had a trading volume of 1,070,704 shares, compared to its average volume of 3,757,427. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $364.00. The stock's 50 day moving average is $324.19 and its 200-day moving average is $257.82. The stock has a market capitalization of $73.93 billion, a PE ratio of 120.81, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59.

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 2.68% and a return on equity of 44.86%. 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. As a group, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America boosted their price objective on shares of Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Needham & Company LLC reissued a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Morgan Stanley upped their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Stephens upped their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carvana from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $310.83.

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.