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

Diversified Portfolios Inc. decreased its holdings in Carvana Co. (NYSE:CVNA) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVNA. Bleakley Financial Group LLC grew its stake in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares during the period. Forum Financial Management LP grew its holdings in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the period. Nisa Investment Advisors LLC increased its stake in Carvana by 0.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after purchasing an additional 86 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Carvana by 37.6% during the fourth quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after purchasing an additional 88 shares during the period. Finally, Empirical Asset Management LLC boosted its position in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after purchasing an additional 100 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 25,000 shares of Carvana 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 sale, the director now owns 5,227 shares of the company’s stock, valued at approximately $1,276,956.10. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 189,761 shares in the company, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,845 shares of company stock valued at $30,742,656. Company insiders own 17.12% of the company’s stock.

Carvana Trading Up 1.0 %

NYSE CVNA opened at $270.45 on Wednesday. The stock has a market capitalization of $56.15 billion, a price-to-earnings ratio of 27,071.57 and a beta of 3.37. The business’s fifty day moving average is $231.25 and its 200-day moving average is $201.27. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a one year low of $48.15 and a one year high of $272.96.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVNA. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $277.00 in a research note on Wednesday, January 8th. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Finally, Piper Sandler raised their price target on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.