Strs Ohio Acquires New Position in Carvana Co. $CVNA

Strs Ohio bought a new position in shares of Carvana Co. (NYSE:CVNA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,077 shares of the company’s stock, valued at approximately $852,000.

Several other institutional investors also recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. lifted its position in Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the period. Alyeska Investment Group L.P. purchased a new position in Carvana during the first quarter worth about $71,856,000. Contour Asset Management LLC boosted its stake in Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock worth $134,462,000 after buying an additional 267,994 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Carvana by 27,368.4% in the 1st quarter. GAMMA Investing LLC now owns 215,352 shares of the company’s stock valued at $45,026,000 after buying an additional 214,568 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CVNA. DA Davidson raised their target price on shares of Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Citigroup reissued an “outperform” rating on shares of Carvana in a research note on Thursday, July 31st. Wall Street Zen raised Carvana from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stephens boosted their price target on Carvana from $300.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average price target of $384.06.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the transaction, the insider owned 83,018 shares of the company’s stock, valued at $31,131,750. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ernest C. Garcia III sold 700 shares of Carvana stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $394.36, for a total value of $276,052.00. Following the completion of the transaction, the chief executive officer owned 421,440 shares of the company’s stock, valued at approximately $166,199,078.40. The trade was a 0.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,426,037 shares of company stock worth $860,238,704 over the last quarter. 17.12% of the stock is owned by corporate insiders.

Carvana Price Performance

Shares of CVNA stock opened at $392.88 on Friday. The firm has a fifty day moving average of $356.76 and a two-hundred day moving average of $295.19. The firm has a market cap of $84.55 billion, a P/E ratio of 98.47, a P/E/G ratio of 1.24 and a beta of 3.51. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The company’s revenue for the quarter was up 41.9% on a year-over-year basis. As a group, research analysts anticipate that Carvana Co. will post 2.85 earnings per share 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.