National Pension Service Acquires 1,707 Shares of Carvana Co. $CVNA

National Pension Service boosted its holdings in Carvana Co. (NYSE:CVNA) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,668 shares of the company’s stock after buying an additional 1,707 shares during the period. National Pension Service owned approximately 0.09% of Carvana worth $63,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVNA. Advyzon Investment Management LLC purchased a new position in shares of Carvana in the second quarter valued at $301,000. Cvfg LLC purchased a new position in Carvana during the 2nd quarter valued at about $257,000. Vise Technologies Inc. purchased a new stake in shares of Carvana in the second quarter worth about $1,369,000. Allworth Financial LP boosted its position in shares of Carvana by 104.9% in the second quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $381,000 after acquiring an additional 579 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in Carvana by 135.7% during the second quarter. Illinois Municipal Retirement Fund now owns 28,881 shares of the company’s stock valued at $9,732,000 after acquiring an additional 16,626 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVNA shares. Piper Sandler raised their price target on shares of Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Bank of America reduced their target price on Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target on the stock in a report on Friday, July 25th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Carvana in a research report on Thursday, October 30th. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $414.16.

Carvana Trading Down 2.8%

NYSE CVNA opened at $319.04 on Friday. 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 stock’s 50-day simple moving average is $352.99 and its two-hundred day simple moving average is $336.44. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The company has a market capitalization of $69.40 billion, a price-to-earnings ratio of 72.84, a PEG ratio of 1.19 and a beta of 3.50.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.64 earnings per share. Research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan S. Keeton sold 32,370 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $301.68, for a total value of $9,765,381.60. Following the completion of the sale, the insider directly owned 115,456 shares in the company, valued at approximately $34,830,766.08. The trade was a 21.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira J. Platt sold 14,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the sale, the director directly owned 7,231 shares of the company’s stock, valued at $2,741,561.34. This trade represents a 65.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 426,452 shares of company stock valued at $154,720,683. Insiders own 17.12% of the company’s stock.

About Carvana

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.