Public Employees Retirement System of Ohio Reduces Stake in Carvana Co. (NYSE:CVNA)

Public Employees Retirement System of Ohio lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,299 shares of the company’s stock after selling 907 shares during the period. Public Employees Retirement System of Ohio’s holdings in Carvana were worth $6,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC lifted its holdings in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Carvana in the 2nd quarter valued at $106,000. Raymond James & Associates grew its holdings in shares of Carvana by 154.1% during the 2nd quarter. Raymond James & Associates now owns 10,544 shares of the company’s stock worth $1,357,000 after purchasing an additional 6,394 shares during the period. Clay Northam Wealth Management LLC purchased a new position in shares of Carvana during the 2nd quarter worth $225,000. Finally, Fifth Third Bancorp increased its position in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVNA. Bank of America increased their target price on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada raised Carvana to a “sector perform” rating and boosted their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Citigroup raised their price target on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Finally, JMP Securities boosted their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus target price of $222.71.

Carvana Trading Up 0.2 %

NYSE CVNA opened at $248.29 on Friday. Carvana Co. has a 52 week low of $40.21 and a 52 week high of $268.34. The firm has a 50 day moving average of $228.64 and a two-hundred day moving average of $168.46. The stock has a market capitalization of $51.55 billion, a PE ratio of 24,829.00 and a beta of 3.32. 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 (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the company earned $0.23 EPS. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. As a group, research analysts expect that Carvana Co. will post 0.76 EPS for the current fiscal year.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the insider now owns 40,058,131 shares in the company, valued at $6,209,010,305. This trade represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,071,908 shares of company stock worth $395,374,785. 17.12% of the stock is currently owned by insiders.

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.