Strs Ohio Has $6.70 Million Position in Carvana Co. $CVNA

Strs Ohio lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 387.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,878 shares of the company’s stock after acquiring an additional 15,801 shares during the period. Strs Ohio’s holdings in Carvana were worth $6,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVNA. Berkshire Capital Holdings Inc. grew its stake in shares of Carvana by 632,200.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after acquiring an additional 63,220 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Carvana by 1,791.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company’s stock worth $542,000 after acquiring an additional 2,454 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Carvana in the 1st quarter worth $359,000. Janney Montgomery Scott LLC bought a new stake in shares of Carvana in the 1st quarter worth $204,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock worth $102,632,000 after acquiring an additional 27,912 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the sale, the vice president directly owned 43,513 shares of the company’s stock, valued at approximately $16,976,161.82. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ernest C. Garcia III sold 2,880 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $355.19, for a total transaction of $1,022,947.20. Following the completion of the sale, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $124,316,500. The trade was a 0.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 914,855 shares of company stock valued at $329,349,210. Company insiders own 16.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price for the company in a research note on Friday, July 25th. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price target on shares of Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Morgan Stanley set a $450.00 price target on shares of Carvana in a research report on Monday, October 20th. Finally, Zacks Research upgraded shares of Carvana from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $418.00.

Carvana Price Performance

Shares of NYSE:CVNA opened at $307.15 on Monday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $66.10 billion, a PE ratio of 70.13, a P/E/G ratio of 1.04 and a beta of 3.50. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The company has a 50-day moving average price of $362.58 and a two-hundred day moving average price of $331.87.

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

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.