Carvana Co. $CVNA Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in Carvana Co. (NYSE:CVNA) by 58.7% in the third quarter, Holdings Channel.com reports. The firm owned 683,978 shares of the company’s stock after purchasing an additional 252,896 shares during the quarter. Retirement Systems of Alabama’s holdings in Carvana were worth $42,776,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CVNA. Provenance Wealth Advisors LLC bought a new position in shares of Carvana during the 3rd quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in Carvana in the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in Carvana by 558.0% in the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after buying an additional 385 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its stake in Carvana by 400.0% in the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock worth $33,000 after buying an additional 400 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Thomas Taira sold 16,789 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $70.58, for a total transaction of $1,184,967.62. Following the completion of the transaction, the insider owned 366,987 shares in the company, valued at $25,901,942.46. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Jenkins sold 63,750 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $61.64, for a total value of $3,929,550.00. Following the completion of the sale, the chief financial officer directly owned 1,142,502 shares of the company’s stock, valued at $70,423,823.28. The trade was a 5.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 635,960 shares of company stock valued at $44,962,096. 15.19% of the stock is owned by insiders.

Carvana Stock Down 4.2%

Shares of NYSE:CVNA opened at $73.02 on Wednesday. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The company has a market cap of $80.56 billion, a PE ratio of 36.66, a P/E/G ratio of 1.96 and a beta of 3.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.05 and a quick ratio of 2.43. The stock’s 50-day moving average is $65.84 and its 200 day moving average is $68.81.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $7.71 billion. Carvana had a return on equity of 34.77% and a net margin of 6.21%. The company’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Sell-side analysts anticipate that Carvana Co. will post 1.59 EPS for the current year.

Analysts Set New Price Targets

CVNA has been the topic of a number of recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $75.00 price target (down from $80.00) on shares of Carvana in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $85.00 price target on shares of Carvana in a research note on Thursday, October 29th. Morgan Stanley restated an “overweight” rating on shares of Carvana in a report on Thursday, October 29th. Needham & Company LLC cut their price objective on shares of Carvana from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Finally, Argus set a $100.00 price objective on shares of Carvana in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.09.

Carvana Profile

Carvana Co. operates an online platform for buying and selling used cars. Customers can browse vehicle listings, arrange financing, value a trade-in, and complete much of the purchase process online. The company also offers vehicle delivery or pickup, including at some locations with its distinctive car vending machines. Founded in 2012, Carvana has expanded its operations across the United States. Its services and vehicle availability vary by market, and the company supports its online marketplace with inspection, reconditioning, and logistics operations.