National Pension Service Boosts Holdings in Carvana Co. $CVNA

National Pension Service lifted its holdings in shares of Carvana Co. (NYSE:CVNA) by 449.1% in the second quarter, HoldingsChannel.com reports. The firm owned 1,508,963 shares of the company’s stock after acquiring an additional 1,234,144 shares during the quarter. National Pension Service’s holdings in Carvana were worth $99,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of Carvana in the second quarter valued at approximately $23,046,000. NorthRock Partners LLC grew its holdings in shares of Carvana by 4.4% in the second quarter. NorthRock Partners LLC now owns 4,135 shares of the company’s stock valued at $272,000 after purchasing an additional 175 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Carvana by 421.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 3,359 shares of the company’s stock worth $221,000 after buying an additional 2,715 shares during the period. RFG Advisory LLC increased its stake in Carvana by 447.5% during the 2nd quarter. RFG Advisory LLC now owns 5,267 shares of the company’s stock worth $347,000 after buying an additional 4,305 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Carvana by 317.2% during the 2nd quarter. NewEdge Advisors LLC now owns 93,271 shares of the company’s stock worth $6,139,000 after buying an additional 70,915 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total value of $4,356,675.00. Following the completion of the sale, the chief financial officer owned 1,029,580 shares in the company, valued at approximately $70,361,497.20. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone acquired 25,000 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the acquisition, the director directly owned 168,573 shares in the company, valued at $10,417,811.40. This represents a 17.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 400,775 shares of company stock worth $27,522,038 over the last quarter. 15.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $87.00 price target on shares of Carvana in a research report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $80.00 target price on shares of Carvana in a report on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price target on shares of Carvana in a report on Thursday, July 30th. Citigroup reissued a “market outperform” rating on shares of Carvana in a research report on Monday, August 31st. Finally, DA Davidson set a $67.00 price objective on shares of Carvana in a research report on Thursday, July 30th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Carvana Stock Down 4.5%

CVNA opened at $70.10 on Friday. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The business has a 50 day moving average price of $69.43 and a two-hundred day moving average price of $68.42. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The company has a market cap of $77.15 billion, a PE ratio of 38.77, a P/E/G ratio of 2.11 and a beta of 3.49.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company 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 was up 52.4% on a year-over-year basis. As a group, research analysts anticipate that Carvana Co. will post 1.68 EPS for the current year.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.