Carvana Co. $CVNA Shares Sold by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey decreased its holdings in shares of Carvana Co. (NYSE:CVNA) by 50.4% during the second quarter, Holdings Channel.com reports. The fund owned 19,505 shares of the company’s stock after selling 19,807 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Carvana were worth $6,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Warren Street Wealth Advisors LLC boosted its stake in Carvana by 2.8% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after purchasing an additional 31 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Carvana by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after buying an additional 60 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Carvana by 29.6% in the second quarter. Parkside Financial Bank & Trust now owns 267 shares of the company’s stock worth $90,000 after buying an additional 61 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Carvana by 46.5% during the second quarter. Harbour Investments Inc. now owns 208 shares of the company’s stock worth $70,000 after buying an additional 66 shares during the period. Finally, Commerce Bank grew its holdings in shares of Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after buying an additional 69 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVNA has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Carvana in a research note on Thursday, October 30th. Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective on the stock in a report on Friday, July 25th. DA Davidson set a $360.00 target price on Carvana in a report on Thursday, October 30th. Evercore ISI dropped their target price on Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. Finally, Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $414.16.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $364.66, for a total transaction of $3,646,600.00. Following the completion of the transaction, the chief operating officer directly owned 104,416 shares of the company’s stock, valued at $38,076,338.56. This represents a 8.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ira J. Platt sold 14,000 shares of the 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 transaction, the director directly owned 7,231 shares in the company, valued at approximately $2,741,561.34. The trade was a 65.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 426,452 shares of company stock valued at $154,720,683. Insiders own 17.12% of the company’s stock.

Carvana Stock Down 0.1%

Carvana stock opened at $318.27 on Friday. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33. The firm has a market cap of $69.24 billion, a price-to-earnings ratio of 72.66, a price-to-earnings-growth ratio of 1.15 and a beta of 3.50. The business’s 50-day moving average price is $351.97 and its 200 day moving average price is $336.97. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

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

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.