Principal Financial Group Inc. Has $28.28 Million Holdings in Carvana Co (NYSE:CVNA)

Principal Financial Group Inc. lowered its stake in shares of Carvana Co (NYSE:CVNA) by 21.3% in the first quarter, Holdings Channel reports. The firm owned 486,995 shares of the company’s stock after selling 131,625 shares during the period. Principal Financial Group Inc.’s holdings in Carvana were worth $28,275,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVNA. Rhumbline Advisers raised its stake in shares of Carvana by 49.4% in the 4th quarter. Rhumbline Advisers now owns 43,764 shares of the company’s stock valued at $1,432,000 after acquiring an additional 14,475 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Carvana by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 52,136 shares of the company’s stock valued at $1,705,000 after acquiring an additional 5,719 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Carvana by 17.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 14,082 shares of the company’s stock valued at $461,000 after acquiring an additional 2,121 shares in the last quarter. EFG Asset Management Americas Corp. raised its stake in shares of Carvana by 26.6% in the 4th quarter. EFG Asset Management Americas Corp. now owns 45,237 shares of the company’s stock valued at $1,480,000 after acquiring an additional 9,496 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC raised its stake in shares of Carvana by 0.7% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 50,133 shares of the company’s stock valued at $1,640,000 after acquiring an additional 329 shares in the last quarter. Institutional investors and hedge funds own 37.08% of the company’s stock.

In other news, insider Paul W. Breaux sold 12,500 shares of Carvana stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $59.05, for a total transaction of $738,125.00. Following the sale, the insider now owns 10,628 shares of the company’s stock, valued at approximately $627,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan S. Keeton sold 9,000 shares of Carvana stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $62.13, for a total value of $559,170.00. Following the sale, the insider now directly owns 16,748 shares in the company, valued at approximately $1,040,553.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,352,643 shares of company stock worth $210,077,239 in the last three months. 13.02% of the stock is owned by insiders.

A number of analysts have issued reports on CVNA shares. Wells Fargo & Co raised their target price on Carvana from $57.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Barrington Research lowered Carvana from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 3rd. Cowen started coverage on Carvana in a report on Monday, May 20th. They issued an “outperform” rating and a $81.00 target price on the stock. Robert W. Baird raised their target price on Carvana from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, March 25th. Finally, Wedbush raised their target price on Carvana from $52.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Carvana presently has an average rating of “Hold” and an average target price of $67.42.

Shares of NYSE:CVNA opened at $59.98 on Friday. Carvana Co has a 1-year low of $28.44 and a 1-year high of $76.85. The company has a market cap of $9.29 billion, a PE ratio of -34.67 and a beta of 2.69. The company has a current ratio of 1.39, a quick ratio of 0.56 and a debt-to-equity ratio of 2.73.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.03). Carvana had a negative return on equity of 30.85% and a negative net margin of 3.54%. The firm had revenue of $755.23 million for the quarter, compared to analyst estimates of $696.61 million. Research analysts expect that Carvana Co will post -1.81 EPS for the current year.

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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 proprietary 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.

See Also: What are Institutional Investors?

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co (NYSE:CVNA).

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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