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

Public Employees Retirement System of Ohio raised its stake in shares of Carvana Co. (NYSE:CVNA) by 556.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 258,520 shares of the company’s stock after acquiring an additional 219,155 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Carvana were worth $17,016,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana in the 4th quarter valued at $29,000. Motiv8 Investments LLC acquired a new position in shares of Carvana in the fourth quarter valued at approximately $33,000. Ascentis Independent Advisors bought a new stake in Carvana in the 1st quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Carvana during the second quarter worth $38,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carvana

In other Carvana news, Director Michael E. Maroone acquired 25,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the transaction, the director owned 168,573 shares in the company, valued at $10,417,811.40. This represents a 17.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira J. Platt sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the transaction, the director owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 420,897 shares of company stock worth $28,777,664 over the last three months. 15.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVNA shares. Morgan Stanley set a $90.00 target price on Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $72.00 price target on shares of Carvana in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price objective on shares of Carvana in a report on Friday, July 31st. Finally, Evercore set a $75.00 price target on Carvana in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Price Performance

CVNA stock opened at $74.24 on Friday. The firm has a market cap 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 fifty day moving average is $68.10 and its 200 day moving average is $68.34. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

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

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.