Diversified Portfolios Inc. Sells 348 Shares of Carvana Co. (NYSE:CVNA)

Diversified Portfolios Inc. trimmed its stake in shares of Carvana Co. (NYSE:CVNA) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,484 shares of the company’s stock after selling 348 shares during the quarter. Diversified Portfolios Inc.’s holdings in Carvana were worth $709,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in Carvana by 2,384.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 78,701 shares of the company’s stock valued at $15,706,000 after buying an additional 75,533 shares in the last quarter. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $28,000. Cigna Investments Inc. New purchased a new position in Carvana during the fourth quarter valued at approximately $223,000. Empowered Funds LLC increased its holdings in Carvana by 3.6% during the 4th quarter. Empowered Funds LLC now owns 2,936 shares of the company’s stock worth $597,000 after acquiring an additional 101 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in Carvana by 133.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,222 shares of the company’s stock worth $655,000 after purchasing an additional 1,839 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the transaction, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,845 shares of company stock worth $30,742,656. Company insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Carvana stock opened at $270.45 on Wednesday. The firm has a fifty day simple moving average of $231.25 and a two-hundred day simple moving average of $201.27. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $48.15 and a twelve month high of $272.96. The company has a market capitalization of $56.15 billion, a PE ratio of 27,071.57 and a beta of 3.37.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Carvana in a research report on Thursday, February 6th. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Thursday, February 6th. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.29.

Carvana 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.