Treasurer of the State of North Carolina Makes New Investment in Carvana Co (NYSE:CVNA)

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Treasurer of the State of North Carolina purchased a new position in shares of Carvana Co (NYSE:CVNA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,900 shares of the company’s stock, valued at approximately $995,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Carvana by 28.1% during the second quarter. Vanguard Group Inc. now owns 3,859,649 shares of the company’s stock worth $241,576,000 after buying an additional 846,994 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Carvana by 39.7% during the second quarter. Balyasny Asset Management LLC now owns 591,518 shares of the company’s stock worth $37,023,000 after buying an additional 168,212 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Carvana during the second quarter worth approximately $9,013,000. Wells Fargo & Company MN increased its holdings in shares of Carvana by 123.5% during the second quarter. Wells Fargo & Company MN now owns 249,525 shares of the company’s stock worth $15,617,000 after buying an additional 137,863 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Carvana by 221.3% during the second quarter. Bank of America Corp DE now owns 191,341 shares of the company’s stock worth $11,976,000 after buying an additional 131,795 shares in the last quarter. Hedge funds and other institutional investors own 37.05% of the company’s stock.

A number of analysts recently weighed in on CVNA shares. Oppenheimer started coverage on shares of Carvana in a report on Thursday, September 19th. They issued an “outperform” rating and a $95.00 price target for the company. Needham & Company LLC started coverage on shares of Carvana in a report on Thursday, September 12th. They issued a “buy” rating and a $105.00 price target for the company. Barrington Research reissued a “hold” rating on shares of Carvana in a report on Monday, August 5th. Morgan Stanley reissued an “underweight” rating and issued a $30.00 price target (up previously from $22.00) on shares of Carvana in a report on Thursday, August 8th. Finally, Bank of America reissued a “buy” rating and issued a $86.00 price target (up previously from $82.00) on shares of Carvana in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $77.50.

In other news, Director Ira J. Platt sold 1,300 shares of Carvana stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $84.50, for a total transaction of $109,850.00. Following the transaction, the director now directly owns 23,682 shares of the company’s stock, valued at $2,001,129. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ira J. Platt sold 10,700 shares of Carvana stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $84.51, for a total transaction of $904,257.00. Following the transaction, the director now directly owns 33,082 shares in the company, valued at $2,795,759.82. The disclosure for this sale can be found here. Insiders have sold a total of 167,361 shares of company stock valued at $13,054,526 in the last ninety days. Company insiders own 13.02% of the company’s stock.

CVNA opened at $72.26 on Friday. The company has a fifty day moving average price of $75.54 and a two-hundred day moving average price of $67.62. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.40 and a current ratio of 3.83. Carvana Co has a 52 week low of $28.44 and a 52 week high of $85.07. The firm has a market capitalization of $10.92 billion, a PE ratio of -41.77 and a beta of 2.17.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The business had revenue of $986.22 million for the quarter, compared to analyst estimates of $914.50 million. During the same period in the prior year, the firm posted ($0.37) EPS. Carvana’s revenue was up 107.5% on a year-over-year basis. Equities analysts forecast that Carvana Co will post -1.82 EPS for the current year.

Carvana 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 proprietary 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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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