PNC Financial Services Group Inc. Buys 818 Shares of Carvana Co. $CVNA

PNC Financial Services Group Inc. grew its stake in shares of Carvana Co. (NYSE:CVNA) by 36.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,045 shares of the company’s stock after acquiring an additional 818 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Carvana were worth $1,026,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. raised its stake in Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Carvana by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after buying an additional 9,694 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after buying an additional 35,168 shares during the period. Finally, Contour Asset Management LLC boosted its stake in shares of Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after buying an additional 267,994 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Down 5.0%

Carvana stock opened at $313.23 on Friday. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $413.33. The firm has a market capitalization of $68.14 billion, a price-to-earnings ratio of 71.51, a P/E/G ratio of 1.19 and a beta of 3.50. The firm has a 50 day moving average of $348.30 and a 200 day moving average of $338.96. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last posted its quarterly 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). The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. As a group, research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, Director Gregory B. Sullivan sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $340.00, for a total transaction of $850,000.00. Following the sale, the director directly owned 39,428 shares of the company’s stock, valued at $13,405,520. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $305.00, for a total value of $305,000.00. Following the completion of the transaction, the vice president owned 41,868 shares in the company, valued at $12,769,740. The trade was a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 386,452 shares of company stock worth $141,017,032 in the last three months. 17.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

CVNA has been the subject of a number of research reports. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a research report on Friday, July 25th. Wells Fargo & Company upped their price target on shares of Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Citigroup dropped their price objective on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada restated an “outperform” rating and set a $460.00 target price on shares of Carvana in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a research report on Monday. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price 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.