Teachers Retirement System of The State of Kentucky raised its stake in shares of Carvana Co. (NYSE:CVNA – Get Rating) by 84.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,253 shares of the company’s stock after buying an additional 43,639 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of Carvana worth $11,363,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. HM Payson & Co. bought a new position in shares of Carvana during the 4th quarter valued at $45,000. Lloyd Advisory Services LLC. raised its holdings in Carvana by 157.2% in the 1st quarter. Lloyd Advisory Services LLC. now owns 445 shares of the company’s stock worth $53,000 after acquiring an additional 272 shares during the period. 1832 Asset Management L.P. bought a new position in Carvana in the 1st quarter worth $59,000. Ulland Investment Advisors LLC bought a new position in Carvana in the 4th quarter worth $122,000. Finally, Claar Advisors LLC grew its position in Carvana by 25.0% in the 4th quarter. Claar Advisors LLC now owns 600 shares of the company’s stock worth $139,000 after purchasing an additional 120 shares during the last quarter.
Analyst Upgrades and Downgrades
CVNA has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Carvana from $85.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, August 5th. Cowen reduced their price target on shares of Carvana from $142.00 to $95.00 in a research report on Saturday, August 6th. JMP Securities started coverage on shares of Carvana in a research report on Thursday, June 30th. They issued a “buy” rating and a $35.00 price target on the stock. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Finally, Evercore ISI reduced their price target on shares of Carvana to $45.00 in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.25.
Carvana Stock Down 11.1 %
Carvana (NYSE:CVNA – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($1.81) by ($0.54). The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.99 billion. Carvana had a negative net margin of 4.24% and a negative return on equity of 115.22%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. Analysts forecast that Carvana Co. will post -8.29 earnings per share for the current 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. The company's 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.
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