PNC Financial Services Group Inc. Sells 166 Shares of Carvana Co. (NYSE:CVNA)

PNC Financial Services Group Inc. reduced its position in Carvana Co. (NYSE:CVNA) by 7.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,155 shares of the company’s stock after selling 166 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Carvana were worth $438,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of Carvana during the 4th quarter valued at about $28,000. Global Retirement Partners LLC lifted its position in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Carvana during the fourth quarter valued at approximately $34,000. Versant Capital Management Inc purchased a new position in Carvana in the 4th quarter worth approximately $42,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after buying an additional 99 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Bank of America dropped their price target on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI reduced their price target on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $262.71.

Insider Buying and Selling

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock valued at $27,524,344 over the last quarter. 17.12% of the stock is owned by company insiders.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $185.41 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a 50-day moving average price of $227.61 and a 200-day moving average price of $214.18. The company has a market cap of $39.52 billion, a price-to-earnings ratio of 118.10 and a beta of 3.56. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

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.