California Public Employees Retirement System Sells 54,830 Shares of Carvana Co. $CVNA

California Public Employees Retirement System cut its stake in shares of Carvana Co. (NYSE:CVNA) by 23.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,866 shares of the company’s stock after selling 54,830 shares during the period. California Public Employees Retirement System’s holdings in Carvana were worth $57,804,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVNA. Ascentis Independent Advisors acquired a new stake in shares of Carvana during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Carvana in the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. bought a new position in Carvana in the fourth quarter valued at about $29,000. Motiv8 Investments LLC bought a new position in Carvana in the fourth quarter valued at about $33,000. Finally, Whipplewood Advisors LLC bought a new position in Carvana in the first quarter valued at about $36,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $76.99, for a total transaction of $3,849,600.00. Following the completion of the sale, the chief operating officer owned 529,810 shares of the company’s stock, valued at approximately $40,791,131.52. This represents a 8.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction 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. The trade was a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 396,962 shares of company stock valued at $28,525,088 over the last 90 days. 15.19% of the stock is currently owned by corporate insiders.

Carvana Stock Up 0.2%

Shares of CVNA opened at $67.50 on Monday. The stock’s 50-day moving average price is $67.86 and its two-hundred day moving average price is $72.29. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a market capitalization of $74.04 billion, a PE ratio of 41.06, a PEG ratio of 11.34 and a beta of 3.46. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. On average, analysts anticipate that Carvana Co. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVNA shares. BNP Paribas Exane boosted their price target on Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Carvana in a report on Thursday, June 18th. Wells Fargo & Company lifted their target price on shares of Carvana from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Bank of America boosted their target price on shares of Carvana from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Finally, UBS Group restated a “buy” rating and issued a $104.00 price target (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.92.

Carvana Company Profile

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.