National Pension Service Grows Position in Carvana Co. $CVNA

National Pension Service lifted its position in Carvana Co. (NYSE:CVNA) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 188,668 shares of the company’s stock after purchasing an additional 1,707 shares during the period. National Pension Service’s holdings in Carvana were worth $63,574,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in Carvana by 30.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock worth $9,617,000 after acquiring an additional 10,753 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Carvana during the first quarter worth about $303,000. Signaturefd LLC boosted its holdings in shares of Carvana by 5.1% during the first quarter. Signaturefd LLC now owns 1,902 shares of the company’s stock worth $398,000 after purchasing an additional 93 shares during the period. Sigma Planning Corp grew its stake in shares of Carvana by 9.2% in the first quarter. Sigma Planning Corp now owns 1,300 shares of the company’s stock worth $272,000 after purchasing an additional 110 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its holdings in Carvana by 35.2% during the 1st quarter. Wealthfront Advisers LLC now owns 18,303 shares of the company’s stock valued at $3,827,000 after purchasing an additional 4,766 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In related news, Director Ira J. Platt sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the transaction, the director 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan S. Keeton sold 32,370 shares of Carvana stock in a transaction 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 transaction, the insider owned 115,456 shares of the company’s stock, valued at $34,830,766.08. The trade was a 21.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 426,452 shares of company stock valued at $154,720,683. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Performance

Shares of Carvana stock opened at $319.04 on Friday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The firm has a market capitalization of $69.40 billion, a P/E ratio of 72.84, a P/E/G ratio of 1.19 and a beta of 3.50. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $352.99 and a two-hundred day simple moving average of $336.44.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. On average, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on CVNA. Morgan Stanley set a $450.00 price objective on Carvana in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a research note on Tuesday. Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a report on Friday, July 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 target price on shares of Carvana in a research note on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $414.16.

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.