California State Teachers Retirement System acquired a new position in Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 26,900 shares of the company’s stock, valued at approximately $551,000. California State Teachers Retirement System owned about 0.17% of Carvana at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CVNA. Royal Bank of Canada acquired a new stake in Carvana during the 2nd quarter worth $15,354,000. Schwab Charles Investment Management Inc. acquired a new stake in Carvana during the 2nd quarter worth $508,000. Principal Financial Group Inc. acquired a new stake in Carvana during the 2nd quarter worth $14,998,000. B. Riley Financial Inc. acquired a new stake in Carvana during the 2nd quarter worth $1,100,000. Finally, FMR LLC acquired a new stake in Carvana during the 2nd quarter worth $26,992,000. Hedge funds and other institutional investors own 15.20% of the company’s stock.
A number of analysts have commented on CVNA shares. Zacks Investment Research lowered shares of Carvana from a “buy” rating to a “sell” rating in a report on Thursday, November 2nd. B. Riley started coverage on shares of Carvana in a report on Friday, September 22nd. They issued a “sell” rating and a $12.00 price target for the company. Barrington Research started coverage on shares of Carvana in a report on Friday, October 27th. They issued a “market perform” rating for the company. Robert W. Baird reissued an “outperform” rating and issued a $22.00 price target on shares of Carvana in a report on Thursday, September 7th. Finally, BMO Capital Markets decreased their price target on shares of Carvana from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.77.
Shares of Carvana Co. (NYSE CVNA) traded up $0.22 during midday trading on Wednesday, reaching $20.43. 453,100 shares of the company were exchanged, compared to its average volume of 755,432. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.50 and a quick ratio of 0.71. Carvana Co. has a 12-month low of $8.14 and a 12-month high of $23.70.
Carvana (NYSE:CVNA) last announced its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. sell-side analysts expect that Carvana Co. will post -1.19 earnings per share for the current year.
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Carvana Company Profile
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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