ProShare Advisors LLC Sells 3,022 Shares of Carvana Co. $CVNA

ProShare Advisors LLC reduced its holdings in shares of Carvana Co. (NYSE:CVNA) by 18.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,572 shares of the company’s stock after selling 3,022 shares during the quarter. ProShare Advisors LLC’s holdings in Carvana were worth $4,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CVNA. Hilltop National Bank purchased a new stake in shares of Carvana during the 2nd quarter valued at $25,000. SJS Investment Consulting Inc. grew its position in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. LRI Investments LLC purchased a new stake in Carvana during the second quarter worth about $42,000. Brooklyn Investment Group raised its position in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Carvana in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 12,750 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the completion of the transaction, the chief financial officer directly owned 208,581 shares in the company, valued at $76,011,088.02. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira J. Platt sold 14,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the transaction, the director directly owned 7,231 shares in the company, valued at approximately $2,741,561.34. The trade was a 65.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 426,452 shares of company stock valued at $154,720,683 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Performance

Shares of CVNA opened at $318.27 on Friday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The stock’s 50-day simple moving average is $351.97 and its 200 day simple moving average is $336.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The stock has a market capitalization of $69.24 billion, a price-to-earnings ratio of 72.66, a price-to-earnings-growth ratio of 1.15 and a beta of 3.50.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the previous year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. Research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on CVNA. BTIG Research reaffirmed a “buy” rating and issued a $450.00 price target on shares of Carvana in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Morgan Stanley set a $450.00 price target on Carvana in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a report on Tuesday. Finally, Evercore ISI dropped their price objective on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $414.16.

About Carvana

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.