Pinnacle Wealth Planning Services Inc. Decreases Stock Position in Carvana Co. (NYSE:CVNA)

Pinnacle Wealth Planning Services Inc. lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 23.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,439 shares of the company’s stock after selling 453 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Carvana were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVNA. Eagle Asset Management Inc. purchased a new stake in Carvana in the third quarter worth $50,531,000. Plato Investment Management Ltd increased its stake in Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after purchasing an additional 2,994 shares during the period. Oak Thistle LLC increased its stake in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after purchasing an additional 1,738 shares during the period. Bank of New York Mellon Corp increased its stake in Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after purchasing an additional 130,942 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after purchasing an additional 95,497 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira J. Platt sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total value of $6,107,500.00. Following the completion of the transaction, the director now owns 5,227 shares of the company’s stock, valued at approximately $1,276,956.10. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,629 shares of company stock valued at $30,866,419. 17.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVNA shares. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Robert W. Baird increased their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Stephens reissued an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $265.94.

Carvana Price Performance

Shares of NYSE CVNA opened at $188.19 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market cap of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56. The business has a 50-day simple moving average of $231.95 and a two-hundred day simple moving average of $212.64. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings results 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. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company 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.