Arizona State Retirement System grew its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,086 shares of the company's stock after purchasing an additional 2,780 shares during the quarter. Arizona State Retirement System's holdings in Carvana were worth $6,728,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVNA. Quent Capital LLC acquired a new position in shares of Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the 4th quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in shares of Carvana in the 3rd quarter valued at $40,000. Finally, Versant Capital Management Inc acquired a new position in shares of Carvana in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 56.71% of the company's stock.
CVNA has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Carvana from $252.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Evercore ISI lifted their price objective on shares of Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a research report on Tuesday, December 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research report on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $265.94.
View Our Latest Report on CVNA
In related news, Director Ira J. Platt sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the completion of the sale, the director now owns 5,227 shares of the company's stock, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,629 shares of company stock valued at $30,866,419. 17.18% of the stock is owned by insiders.
Shares of Carvana stock traded up $1.34 on Friday, hitting $188.19. The company's stock had a trading volume of 8,347,166 shares, compared to its average volume of 4,293,713. Carvana Co. has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a fifty day moving average price of $231.41 and a 200-day moving average price of $213.28. The company has a market capitalization of $40.11 billion, a P/E ratio of 119.86 and a beta of 3.56.
Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.
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.
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