Penserra Capital Management LLC Sells 8,898 Shares of Carvana Co. (NYSE:CVNA)

Penserra Capital Management LLC decreased its position in shares of Carvana Co. (NYSE:CVNA) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 38,599 shares of the company’s stock after selling 8,898 shares during the quarter. Penserra Capital Management LLC’s holdings in Carvana were worth $6,720,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CVNA. Sugarloaf Wealth Management LLC purchased a new stake in Carvana during the third quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Carvana during the 3rd quarter valued at approximately $40,000. Ridgewood Investments LLC bought a new position in Carvana in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. boosted its holdings in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after buying an additional 196 shares during the period. Finally, Summit Securities Group LLC grew its stake in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $155.69, for a total transaction of $15,569,000.00. Following the transaction, the insider now directly owns 41,233,131 shares in the company, valued at $6,419,586,165.39. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $241.78, for a total value of $4,835,600.00. Following the completion of the sale, the chief financial officer now owns 170,732 shares of the company’s stock, valued at $41,279,582.96. The trade was a 10.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,318,063 shares of company stock valued at $420,434,579. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Up 4.4 %

CVNA opened at $259.36 on Monday. The business’s fifty day simple moving average is $203.96 and its 200 day simple moving average is $154.76. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $263.61. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $53.85 billion, a PE ratio of 25,961.96 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. As a group, research analysts expect that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVNA shares. DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JMP Securities upped their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average target price of $217.71.

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.