Carvana Co. $CVNA Shares Acquired by Strs Ohio

Strs Ohio lifted its position in shares of Carvana Co. (NYSE:CVNA) by 89.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,756 shares of the company’s stock after acquiring an additional 17,878 shares during the quarter. Strs Ohio’s holdings in Carvana were worth $14,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its position in Carvana by 28.3% during the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after purchasing an additional 30 shares in the last quarter. Warren Street Wealth Advisors LLC increased its position in shares of Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after buying an additional 31 shares in the last quarter. MAI Capital Management raised its stake in shares of Carvana by 1.8% during the 2nd quarter. MAI Capital Management now owns 1,757 shares of the company’s stock worth $592,000 after buying an additional 31 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Carvana by 23.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of research analyst reports. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Citigroup upped their price target on shares of Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a report on Monday, December 29th. Argus assumed coverage on Carvana in a research note on Monday, December 15th. They set a “buy” rating and a $500.00 price objective for the company. Finally, Bank of America raised their target price on Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $468.59.

Insider Activity

In other Carvana news, COO Benjamin E. Huston sold 40,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $17,580,000.00. Following the transaction, the chief operating officer directly owned 100,758 shares in the company, valued at $44,283,141. The trade was a 28.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the completion of the sale, the insider directly owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. This trade represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 467,626 shares of company stock worth $192,090,109. Insiders own 16.36% of the company’s stock.

Carvana Trading Down 1.1%

CVNA opened at $473.08 on Monday. The firm has a market capitalization of $102.91 billion, a price-to-earnings ratio of 108.01, a price-to-earnings-growth ratio of 1.14 and a beta of 3.54. The company’s 50 day simple moving average is $420.06 and its two-hundred day simple moving average is $376.21. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.