Public Employees Retirement System of Ohio Has $7.56 Million Position in Carvana Co. (NYSE:CVNA)

Public Employees Retirement System of Ohio reduced its stake in Carvana Co. (NYSE:CVNA - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,172 shares of the company's stock after selling 2,127 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Carvana were worth $7,559,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CVNA. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $98,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Carvana by 90.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 415,070 shares of the company's stock valued at $84,409,000 after acquiring an additional 196,776 shares in the last quarter. USS Investment Management Ltd purchased a new position in Carvana during the fourth quarter worth about $5,065,000. Voloridge Investment Management LLC grew its holdings in shares of Carvana by 52.7% during the fourth quarter. Voloridge Investment Management LLC now owns 479,976 shares of the company's stock worth $97,608,000 after purchasing an additional 165,661 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in Carvana in the 4th quarter worth approximately $51,091,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Transactions at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $308.55, for a total transaction of $3,085,500.00. Following the completion of the sale, the chief executive officer now directly owns 810,000 shares in the company, valued at approximately $249,925,500. This trade represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now owns 196,278 shares of the company's stock, valued at $35,033,660.22. The trade was a 20.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 630,313 shares of company stock worth $157,709,272. Insiders own 17.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CVNA shares. Evercore ISI dropped their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. Piper Sandler set a $340.00 target price on Carvana and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Bank of America increased their target price on Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Stephens reissued an "overweight" rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $275.65.

Carvana Trading Up 2.3%

NYSE:CVNA traded up $7.26 on Friday, reaching $326.91. The stock had a trading volume of 4,458,631 shares, compared to its average volume of 3,954,299. Carvana Co. has a 12-month low of $97.55 and a 12-month high of $327.64. The company has a market cap of $70.01 billion, a price-to-earnings ratio of 208.22 and a beta of 3.61. The firm's fifty day moving average is $243.06 and its two-hundred day moving average is $234.61. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company's revenue was up 38.3% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. Equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company Profile

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.