New York State Common Retirement Fund Sells 45,202 Shares of Carvana Co. (NYSE:CVNA)

New York State Common Retirement Fund cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 28.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,699 shares of the company’s stock after selling 45,202 shares during the period. New York State Common Retirement Fund’s holdings in Carvana were worth $22,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CVNA. Venturi Wealth Management LLC boosted its position in shares of Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after buying an additional 99 shares during the period. CIBC Asset Management Inc lifted its position in shares of Carvana by 40.8% in the fourth quarter. CIBC Asset Management Inc now owns 4,740 shares of the company’s stock valued at $964,000 after buying an additional 1,374 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Carvana by 7.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,052 shares of the company’s stock worth $8,552,000 after purchasing an additional 2,771 shares during the period. Allworth Financial LP boosted its holdings in shares of Carvana by 30.0% during the 4th quarter. Allworth Financial LP now owns 511 shares of the company’s stock worth $104,000 after buying an additional 118 shares during the period. Finally, Principal Securities Inc. raised its holdings in Carvana by 50.0% in the 4th quarter. Principal Securities Inc. now owns 366 shares of the company’s stock valued at $74,000 after acquiring an additional 122 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Carvana stock opened at $223.14 on Friday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. Carvana Co. has a 12-month low of $49.38 and a 12-month high of $292.84. The business’s 50-day moving average price is $234.35 and its two-hundred day moving average price is $207.79.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 446.67%. As a group, analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 20,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the sale, the chief financial officer now owns 199,962 shares of the company’s stock, valued at $55,125,524.16. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVNA shares. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Thursday, February 6th. Royal Bank of Canada upped their price objective on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Needham & Company LLC lifted their price objective on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

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.