Carvana Co. $CVNA Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its position in Carvana Co. (NYSE:CVNA) by 31,281.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 63,866,397 shares of the company’s stock after acquiring an additional 63,662,882 shares during the quarter. California State Teachers Retirement System owned about 0.06% of Carvana worth $4,203,686,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Studio Investment Management LLC raised its holdings in shares of Carvana by 400.0% during the second quarter. Studio Investment Management LLC now owns 4,310 shares of the company’s stock valued at $284,000 after acquiring an additional 3,448 shares during the last quarter. Greenland Capital Management LP acquired a new stake in shares of Carvana in the second quarter worth approximately $626,000. Wedmont Private Capital boosted its stake in shares of Carvana by 436.6% in the second quarter. Wedmont Private Capital now owns 11,870 shares of the company’s stock worth $781,000 after acquiring an additional 9,658 shares during the last quarter. Styrax Capital LP increased its position in shares of Carvana by 400.0% during the second quarter. Styrax Capital LP now owns 1,500,000 shares of the company’s stock worth $98,730,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in shares of Carvana by 373.5% during the second quarter. HB Wealth Management LLC now owns 18,926 shares of the company’s stock worth $1,246,000 after purchasing an additional 14,929 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $4,561,312.50. Following the transaction, the chief financial officer directly owned 1,149,518 shares in the company, valued at approximately $82,248,012.90. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the transaction, the director owned 186,470 shares of the company’s stock, valued at $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 400,775 shares of company stock worth $27,522,038. Insiders own 15.19% of the company’s stock.

Carvana Price Performance

Carvana stock opened at $73.49 on Thursday. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The stock has a market cap of $80.87 billion, a P/E ratio of 40.65, a PEG ratio of 2.15 and a beta of 3.49. The company has a 50-day moving average price of $69.40 and a 200 day moving average price of $68.39. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. Sell-side analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on CVNA shares. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. DA Davidson set a $67.00 target price on shares of Carvana in a research note on Thursday, July 30th. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Evercore set a $75.00 price target on shares of Carvana in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.14.

Carvana Company 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.