Public Employees Retirement Association of Colorado Cuts Position in Carvana Co. (NYSE:CVNA)

Public Employees Retirement Association of Colorado decreased its holdings in Carvana Co. (NYSE:CVNA) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,249 shares of the company’s stock after selling 94 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Carvana were worth $1,319,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its position in shares of Carvana by 525.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 48,272 shares of the company’s stock valued at $2,556,000 after buying an additional 40,557 shares in the last quarter. Commerce Bank purchased a new position in Carvana during the fourth quarter valued at $249,000. Neuberger Berman Group LLC grew its position in shares of Carvana by 10.2% in the fourth quarter. Neuberger Berman Group LLC now owns 6,543 shares of the company’s stock valued at $346,000 after purchasing an additional 606 shares during the period. Hsbc Holdings PLC increased its stake in shares of Carvana by 107.4% during the fourth quarter. Hsbc Holdings PLC now owns 30,580 shares of the company’s stock worth $1,612,000 after purchasing an additional 15,832 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

CVNA stock opened at $172.72 on Wednesday. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $176.33. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The stock has a market cap of $34.99 billion, a price-to-earnings ratio of 75.75 and a beta of 3.43. The business has a fifty day moving average of $144.33 and a two-hundred day moving average of $116.89.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. As a group, research analysts anticipate that Carvana Co. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVNA shares. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price objective on shares of Carvana in a report on Monday, September 9th. Robert W. Baird began coverage on Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and raised their price objective for the company from $166.00 to $170.00 in a report on Monday, August 19th. BTIG Research upped their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley raised their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $153.88.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now directly owns 359,370 shares in the company, valued at approximately $53,905,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the transaction, the insider now directly owns 690,814 shares in the company, valued at approximately $102,710,225.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the sale, the insider now owns 359,370 shares in the company, valued at $53,905,500. The disclosure for this sale can be found here. Insiders sold a total of 2,491,866 shares of company stock worth $349,710,934 over the last three months. Insiders own 17.12% of the company’s stock.

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.