Maryland State Retirement & Pension System Reduces Position in Carvana Co. (NYSE:CVNA)

Maryland State Retirement & Pension System lessened its holdings in shares of Carvana Co. (NYSE:CVNA) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,777 shares of the company’s stock after selling 245 shares during the period. Maryland State Retirement & Pension System’s holdings in Carvana were worth $1,175,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quent Capital LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its holdings in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Carvana in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE CVNA opened at $191.38 on Friday. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a market cap of $40.80 billion, a price-to-earnings ratio of 121.90 and a beta of 3.56. The stock’s fifty day moving average price is $227.57 and its 200 day moving average price is $214.95.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $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 three months, insiders have sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVNA. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price target on shares of Carvana in a report on Friday, March 7th. DA Davidson upped their target price on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Royal Bank of Canada upped their target price on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Citigroup upped their target price on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Stephens restated an “overweight” rating and set a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $262.71.

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 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.