Carvana Co. (NYSE:CVNA) Stock Position Boosted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Carvana Co. (NYSE:CVNA) by 51.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,143 shares of the company’s stock after buying an additional 26,729 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Carvana were worth $4,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. bought a new position in Carvana in the 4th quarter valued at about $29,000. Vanguard Group Inc. boosted its position in shares of Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Carvana during the 3rd quarter valued at about $2,879,000. Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Carvana during the 3rd quarter valued at about $22,906,000. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVNA. Wedbush restated a “neutral” rating and set a $80.00 price objective (up previously from $60.00) on shares of Carvana in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. William Blair upgraded shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Robert W. Baird raised their price objective on shares of Carvana from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Evercore ISI reduced their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Carvana presently has a consensus rating of “Hold” and an average target price of $55.87.

Carvana Price Performance

Shares of CVNA opened at $84.35 on Friday. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 156.21 and a beta of 3.32. The company has a 50-day moving average of $77.47 and a two-hundred day moving average of $53.70. Carvana Co. has a one year low of $6.70 and a one year high of $94.04.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.97) EPS. Analysts anticipate that Carvana Co. will post -3.35 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Thomas Taira sold 4,197 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the completion of the sale, the insider now directly owns 164,827 shares in the company, valued at $13,654,268.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Thomas Taira sold 4,197 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the completion of the sale, the insider now directly owns 164,827 shares in the company, valued at $13,654,268.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now directly owns 150,126 shares in the company, valued at approximately $10,358,694. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,883 shares of company stock worth $15,505,178. 17.12% of the stock is owned by company insiders.

About Carvana

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.