VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Carvana Co. $CVNA

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Carvana Co. (NYSE:CVNA) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 18,500 shares of the company’s stock, valued at approximately $6,234,000.

Several other hedge funds have also modified their holdings of CVNA. Hilltop National Bank acquired a new stake in shares of Carvana in the second quarter valued at $25,000. Brooklyn Investment Group raised its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana in the first quarter valued at $33,000. SJS Investment Consulting Inc. raised its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Carvana in the second quarter valued at $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Trading Up 1.3%

NYSE:CVNA opened at $338.00 on Tuesday. The stock’s 50 day moving average price is $363.95 and its 200 day moving average price is $322.12. The company has a market capitalization of $72.74 billion, a PE ratio of 84.71, a P/E/G ratio of 1.08 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. On average, research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the transaction, the insider owned 197,832 shares in the company, valued at $78,917,163.12. This trade represents a 28.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total value of $36,805,084.16. Following the transaction, the insider owned 6,624 shares in the company, valued at $2,610,915.84. This represents a 93.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,618,292 shares of company stock worth $588,235,207 in the last quarter. 16.36% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on CVNA. DA Davidson increased their target price on Carvana from $260.00 to $380.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Gordon Haskett began coverage on Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $440.00 target price on shares of Carvana in a report on Tuesday, September 23rd. Jefferies Financial Group set a $475.00 target price on Carvana and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Needham & Company LLC increased their target price on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $416.33.

Carvana Company 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.