Principal Financial Group Inc. Sells 819 Shares of Carvana Co. (NYSE:CVNA)

Principal Financial Group Inc. cut its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 12.1% in the first quarter, according to its most recent disclosure with the SEC. The firm 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.

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

Carvana Trading Up 0.1%

Shares of CVNA traded up $0.35 on Wednesday, reaching $341.91. 3,223,152 shares of the company's stock were exchanged, compared to its average volume of 3,767,189. 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 stock has a market capitalization of $73.22 billion, a P/E ratio of 119.97, a price-to-earnings-growth ratio of 1.33 and a beta of 3.59. The business has a 50 day moving average price of $326.43 and a two-hundred day moving average price of $259.56. Carvana Co. has a 12 month low of $118.50 and a 12 month high of $364.00.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly 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. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business's quarterly revenue was up 38.3% compared to the same quarter last year. Research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 51,380 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the completion of the sale, the chief financial officer owned 162,079 shares of the company's stock, valued at $52,842,616.37. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel J. Gill sold 70,166 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider directly owned 201,087 shares of the company's stock, valued at $56,591,914.41. This represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,111,515 shares of company stock valued at $699,494,448 over the last ninety days. 17.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVNA shares. Wedbush upgraded shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Royal Bank Of Canada boosted their target price on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler set a $340.00 price target on shares of Carvana and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Carvana from $310.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Carvana presently has an average rating of "Moderate Buy" and a consensus price target 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.