New Mexico Educational Retirement Board Has $2.35 Million Stock Holdings in Carvana Co. $CVNA

New Mexico Educational Retirement Board boosted its position in Carvana Co. (NYSE:CVNA) by 449.2% during the 2nd quarter, Holdings Channel.com reports. The fund 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in CVNA. Gilder Gagnon Howe & Co. LLC raised its holdings in Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after purchasing an additional 31 shares during the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Carvana by 4.8% in the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after purchasing an additional 32 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Carvana by 6.2% in the 4th quarter. Benjamin Edwards Inc. now owns 586 shares of the company’s stock valued at $247,000 after purchasing an additional 34 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Carvana by 29.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock worth $58,000 after buying an additional 42 shares during the period. Finally, Moors & Cabot Inc. grew its position in shares of Carvana by 5.7% during the 3rd quarter. Moors & Cabot Inc. now owns 813 shares of the company’s stock worth $307,000 after buying an additional 44 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVNA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 price target on shares of Carvana in a research note on Friday, July 31st. Robert W. Baird set a $72.00 target price on shares of Carvana in a report on Thursday, July 30th. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. DA Davidson set a $67.00 price target on Carvana in a research note on Thursday, July 30th. Finally, Morgan Stanley set a $90.00 price target on Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Carvana Stock Up 0.2%

Carvana stock opened at $74.24 on Friday. The company’s 50 day simple moving average is $68.10 and its 200 day simple moving average is $68.34. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The firm has a market capitalization of $81.70 billion, a price-to-earnings ratio of 41.06, a PEG ratio of 2.69 and a beta of 3.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion during 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%. The business’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 earnings per share. As a group, sell-side analysts anticipate that Carvana Co. will post 1.68 EPS for the current year.

Insider Activity at Carvana

In other news, Director Michael E. Maroone purchased 25,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $61.80 per share, with a total value of $1,545,000.00. Following the acquisition, the director directly owned 168,573 shares of the company’s stock, valued at approximately $10,417,811.40. This represents a 17.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the sale, the director directly owned 214,960 shares in the company, valued at $15,047,200. The trade was a 6.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 420,897 shares of company stock valued at $28,777,664. 15.19% of the stock is owned by corporate insiders.

About Carvana

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.