National Pension Service Purchases 1,234,144 Shares of Carvana Co. $CVNA

Key Points

• National Pension Service increased its Carvana stake by 449.1% in the second quarter, purchasing 1,234,144 shares to hold 1.51 million shares valued at approximately $99.3 million. Institutional investors collectively own 56.71% of the company.
• Carvana reported quarterly revenue of $7.38 billion, up 52.4% year over year, and adjusted expectations with earnings of $0.42 per share versus the $0.39 consensus estimate.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $84.14, although company insiders sold roughly $27.5 million of stock over the past 90 days.

National Pension Service increased its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 449.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,508,963 shares of the company's stock after acquiring an additional 1,234,144 shares during the quarter. National Pension Service owned about 0.14% of Carvana worth $99,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ascentis Independent Advisors purchased a new position in Carvana in the first quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of 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 purchasing an additional 58 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of Carvana by 558.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company's stock worth $30,000 after purchasing an additional 385 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Carvana during the 4th quarter worth $33,000. Finally, GoalVest Advisory LLC grew its stake in Carvana by 400.0% during the 2nd quarter. GoalVest Advisory LLC now owns 500 shares of the company's stock worth $33,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Down 4.5%

CVNA stock opened at $70.10 on Friday. The stock has a market capitalization of $77.15 billion, a P/E ratio of 38.77, a P/E/G ratio of 2.11 and a beta of 3.49. The firm has a 50-day simple moving average of $69.43 and a 200-day simple moving average 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. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analysts' expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm's quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 EPS. Equities analysts forecast that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CVNA shares. Zacks Research downgraded Carvana from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of Carvana from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Citigroup reaffirmed a "market outperform" rating on shares of Carvana in a report on Monday, August 31st. Hovde Group boosted their price objective on shares of Carvana from $39.50 to $48.00 and gave the company a "market perform" rating in a report on Tuesday, August 4th. Finally, Morgan Stanley set a $90.00 target price on Carvana and gave the stock an "overweight" rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and an average target price of $84.14.

Insider Activity

In related news, CFO Mark Jenkins sold 63,750 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the completion of the sale, the chief financial officer owned 1,029,580 shares of the company's stock, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the completion of the sale, the director owned 214,960 shares of the company's stock, valued at approximately $16,122,000. The trade was a 6.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 400,775 shares of company stock valued at $27,522,038 in the last ninety days. 15.19% of the stock is currently owned by corporate insiders.

Carvana 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.

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