California Public Employees Retirement System Decreases Stock Position in Carvana Co. (NYSE:CVNA)

California Public Employees Retirement System decreased its position in shares of Carvana Co. (NYSE:CVNA) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,357 shares of the company’s stock after selling 11,889 shares during the period. California Public Employees Retirement System owned about 0.09% of Carvana worth $37,491,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in shares of Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC grew its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the 4th quarter valued at approximately $34,000. Finally, Versant Capital Management Inc purchased a new position in shares of Carvana during the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $226.07 on Thursday. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 143.99 and a beta of 3.56. The business has a 50 day simple moving average of $226.26 and a 200 day simple moving average of $219.11.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVNA. Bank of America cut their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. DA Davidson lifted their price target on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Royal Bank of Canada upped their price objective on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $261.53.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,810 shares of company stock valued at $61,698,820. Company insiders own 17.12% of the company’s stock.

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.