New Mexico Educational Retirement Board Buys 29,200 Shares of Carvana Co. $CVNA

New Mexico Educational Retirement Board boosted its stake in Carvana Co. (NYSE:CVNA) by 449.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,700 shares of the company’s stock after buying an additional 29,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Carvana were worth $2,350,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CVNA. Farmers & Merchants Investments Inc. acquired a new position in Carvana during the fourth quarter worth $29,000. Motiv8 Investments LLC acquired a new stake in shares of Carvana in the 4th quarter valued at $33,000. Ascentis Independent Advisors bought a new stake in shares of Carvana in the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Carvana by 152.6% during 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. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Carvana during the 2nd quarter worth about $38,000. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and set a $87.00 price target on shares of Carvana in a report on Tuesday, August 18th. Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Argus reduced their target price on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. One equities 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Carvana Stock Performance

Carvana stock opened at $74.24 on Friday. The stock has a 50-day simple moving average of $68.10 and a 200 day simple moving average of $68.34. 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 12-month low of $54.46 and a 12-month high of $97.38. The stock has a market capitalization of $81.70 billion, a price-to-earnings ratio of 41.06, a P/E/G ratio of 2.69 and a beta of 3.46.

Carvana (NYSE:CVNA) last issued its quarterly 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. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. On average, research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director J Danforth Quayle sold 14,525 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the transaction, the director directly owned 214,960 shares in the company, valued at approximately $15,047,200. This represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the transaction, the chief financial officer owned 1,029,580 shares in the company, valued at $70,361,497.20. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 420,897 shares of company stock valued at $28,777,664. Insiders own 15.19% of the company’s stock.

Carvana 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.