Public Employees Retirement System of Ohio Purchases 219,155 Shares of Carvana Co. $CVNA

Public Employees Retirement System of Ohio raised its position in shares of Carvana Co. (NYSE:CVNA) by 556.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 258,520 shares of the company’s stock after purchasing an additional 219,155 shares during the period. Public Employees Retirement System of Ohio’s holdings in Carvana were worth $17,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC lifted its position in Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after acquiring an additional 31 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of Carvana by 4.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after purchasing an additional 32 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Carvana by 6.2% during the fourth quarter. Benjamin Edwards Inc. now owns 586 shares of the company’s stock valued at $247,000 after purchasing an additional 34 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Carvana by 29.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock worth $58,000 after purchasing an additional 42 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in Carvana by 5.7% during the 3rd quarter. Moors & Cabot Inc. now owns 813 shares of the company’s stock valued at $307,000 after buying an additional 44 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Up 0.2%

Shares of CVNA stock opened at $74.24 on Friday. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The stock has a market capitalization of $81.70 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46. The firm’s 50 day moving average is $68.10 and its 200 day moving average is $68.34.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the business posted $1.51 EPS. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. Research analysts expect that Carvana Co. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped their price target on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Hovde Group lifted their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, August 4th. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada set a $82.00 price objective on Carvana and gave the company an “outperform” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.14.

Insider Activity

In other news, Director Ira J. Platt sold 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $75.50, for a total value of $1,132,500.00. Following the transaction, the director owned 186,470 shares in the company, valued at $14,078,485. This represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $64.49, for a total transaction of $322,450.00. Following the completion of the transaction, the vice president directly owned 136,909 shares in the company, valued at approximately $8,829,261.41. The trade was a 3.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 420,897 shares of company stock worth $28,777,664. Company insiders own 15.19% of the company’s stock.

About Carvana

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.