Principal Financial Group Inc. Has $1.12 Million Position in Carvana Co. (NYSE:CVNA)

Principal Financial Group Inc. lifted its holdings in shares of Carvana Co. (NYSE:CVNAFree Report) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,702 shares of the company’s stock after buying an additional 1,068 shares during the period. Principal Financial Group Inc.’s holdings in Carvana were worth $1,117,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVNA. China Universal Asset Management Co. Ltd. bought a new stake in shares of Carvana during the 1st quarter worth approximately $357,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its stake in Carvana by 17.6% in the first quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 588,149 shares of the company’s stock valued at $51,704,000 after acquiring an additional 88,149 shares during the last quarter. Gainplan LLC bought a new position in shares of Carvana in the 1st quarter valued at about $440,000. PFG Investments LLC raised its holdings in shares of Carvana by 68.2% in the 1st quarter. PFG Investments LLC now owns 42,783 shares of the company’s stock valued at $3,761,000 after purchasing an additional 17,345 shares during the period. Finally, Diversified Trust Co lifted its stake in Carvana by 53.3% in the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock valued at $763,000 after purchasing an additional 3,019 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $128.06 on Friday. Carvana Co. has a 52 week low of $23.43 and a 52 week high of $136.92. The firm has a market cap of $25.94 billion, a PE ratio of 56.17 and a beta of 3.37. The firm’s fifty day moving average is $112.76 and its 200-day moving average is $80.92.

Carvana (NYSE:CVNAGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Sell-side analysts forecast that Carvana Co. will post -0.75 EPS for the current year.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the sale, the insider now owns 3,312,500 shares in the company, valued at approximately $265,430,625. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Thomas Taira sold 68,556 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the transaction, the insider now owns 186,397 shares of the company’s stock, valued at approximately $19,150,427.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the sale, the insider now directly owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,923,946 shares of company stock worth $212,520,806. Company insiders own 17.18% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the subject of several research analyst reports. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Wells Fargo & Company lifted their target price on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. TD Cowen increased their price target on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a report on Monday, April 29th. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $88.50.

Check Out Our Latest Stock Analysis on CVNA

Carvana Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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