New York State Common Retirement Fund Raises Holdings in Carvana Co. (NYSE:CVNA)

New York State Common Retirement Fund boosted its position in Carvana Co. (NYSE:CVNA) by 6.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,901 shares of the company’s stock after acquiring an additional 8,849 shares during the quarter. New York State Common Retirement Fund’s holdings in Carvana were worth $27,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC lifted its stake in shares of Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after buying an additional 130 shares in the last quarter. CWM LLC grew its stake in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares during the period. GAMMA Investing LLC increased its position in shares of Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after acquiring an additional 150 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Carvana by 2.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CVNA shares. Citigroup upped their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and boosted their price objective for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Wedbush raised their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Bank of America lifted their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, BTIG Research increased their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.88.

Carvana Stock Down 7.4 %

NYSE:CVNA opened at $229.08 on Monday. The company has a current ratio of 3.25, a quick ratio of 2.02 and a debt-to-equity ratio of 18.99. The stock has a 50 day moving average of $174.33 and a 200-day moving average of $138.23. The firm has a market capitalization of $47.41 billion, a PE ratio of 22,930.93 and a beta of 3.37. Carvana Co. has a 52 week low of $27.75 and a 52 week high of $259.39.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. Analysts predict that Carvana Co. will post 0.26 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, Director Ira J. Platt sold 664 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the transaction, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ira J. Platt sold 664 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at $4,534,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,738,934 shares of company stock worth $463,538,905 in the last ninety days. 17.12% of the stock is owned by insiders.

Carvana Company 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.