Diversified Portfolios Inc. Has $666,000 Holdings in Carvana Co. (NYSE:CVNA)

Diversified Portfolios Inc. lessened its stake in Carvana Co. (NYSE:CVNA) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,184 shares of the company’s stock after selling 300 shares during the quarter. Diversified Portfolios Inc.’s holdings in Carvana were worth $666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Praxis Investment Management Inc. grew its position in Carvana by 56.0% in the first quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company’s stock valued at $920,000 after acquiring an additional 1,580 shares during the last quarter. United Advisor Group LLC bought a new position in Carvana in the first quarter valued at about $233,000. Chicago Capital LLC grew its position in Carvana by 30.1% in the first quarter. Chicago Capital LLC now owns 7,948 shares of the company’s stock valued at $1,662,000 after acquiring an additional 1,839 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Carvana in the first quarter valued at about $204,000. Finally, Polianta Ltd grew its position in Carvana by 7.8% in the first quarter. Polianta Ltd now owns 5,500 shares of the company’s stock valued at $1,149,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the transaction, the chief operating officer now directly owns 123,803 shares of the company’s stock, valued at approximately $18,681,872.70. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares in the company, valued at approximately $40,431,815.19. This trade represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,293,166 shares of company stock worth $393,426,581 over the last ninety days. Insiders own 16.36% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $321.06 on Monday. The business’s 50 day simple moving average is $282.80 and its 200 day simple moving average is $242.49. Carvana Co. has a one year low of $111.55 and a one year high of $351.43. The stock has a market capitalization of $68.75 billion, a PE ratio of 112.65, a PEG ratio of 1.25 and a beta of 3.65. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA) last announced 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. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s revenue was up 38.3% on a year-over-year basis. As a group, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVNA. Piper Sandler set a $340.00 target price on Carvana and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Citigroup lifted their target price on Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Wells Fargo & Company lifted their target price on Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Finally, JMP Securities reduced their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $283.59.

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.