Public Employees Retirement System of Ohio Sells 15,189 Shares of Carvana Co. $CVNA

Public Employees Retirement System of Ohio trimmed its holdings in shares of Carvana Co. (NYSE:CVNA) by 27.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 39,365 shares of the company’s stock after selling 15,189 shares during the period. Public Employees Retirement System of Ohio’s holdings in Carvana were worth $12,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gavilan Investment Partners LLC boosted its position in Carvana by 7.0% during the first quarter. Gavilan Investment Partners LLC now owns 92,000 shares of the company’s stock valued at $28,923,000 after purchasing an additional 6,000 shares during the last quarter. Inceptionr LLC acquired a new position in shares of Carvana during the 1st quarter worth approximately $554,000. Lido Advisors LLC raised its stake in shares of Carvana by 77.7% during the 1st quarter. Lido Advisors LLC now owns 2,714 shares of the company’s stock worth $854,000 after purchasing an additional 1,187 shares in the last quarter. State of Wyoming bought a new stake in shares of Carvana during the 1st quarter worth approximately $570,000. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Carvana by 14.8% in the first quarter. Coronation Fund Managers Ltd. now owns 49,207 shares of the company’s stock valued at $15,470,000 after buying an additional 6,347 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of several analyst reports. BNP Paribas Exane upped their price target on shares of Carvana from $77.60 to $85.80 in a research report on Thursday, April 30th. Stephens upped their price target on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Carvana in a report on Friday, June 12th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Carvana in a research report on Friday, June 5th. Finally, Jefferies Financial Group dropped their price objective on shares of Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.65.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the sale, the chief operating officer owned 458,755 shares in the company, valued at $31,447,655.25. The trade was a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares of the company’s stock, valued at $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 396,962 shares of company stock worth $28,525,088 over the last 90 days. 15.19% of the stock is currently owned by company insiders.

Carvana Trading Down 0.0%

CVNA opened at $60.43 on Monday. The company’s 50 day moving average is $66.99 and its 200-day moving average is $71.53. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The company has a market cap of $66.28 billion, a P/E ratio of 36.76, a PEG ratio of 13.57 and a beta of 3.46.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $0.32 by $1.37. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. Equities research analysts predict that Carvana Co. will post 1.63 earnings per share for the current fiscal year.

Carvana Profile

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.