New York State Common Retirement Fund Has $22.72 Million Stock Holdings in Carvana Co. (NYSE:CVNA)

New York State Common Retirement Fund trimmed its position in Carvana Co. (NYSE:CVNA) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,699 shares of the company’s stock after selling 45,202 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Carvana worth $22,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Raymond James & Associates increased its position in Carvana by 28.8% in the 3rd quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock worth $2,364,000 after buying an additional 3,033 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Carvana by 2.9% in the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock worth $1,066,000 after acquiring an additional 175 shares during the last quarter. Signaturefd LLC grew its stake in shares of Carvana by 30.9% in the third quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock worth $321,000 after acquiring an additional 435 shares during the last quarter. Private Advisor Group LLC increased its position in Carvana by 16.7% during the third quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock worth $5,313,000 after acquiring an additional 4,372 shares during the period. Finally, Legacy Capital Group California Inc. acquired a new position in Carvana during the 3rd quarter valued at $1,248,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Performance

Carvana stock opened at $223.14 on Friday. The stock has a 50-day simple moving average of $234.35 and a 200 day simple moving average of $207.79. The stock has a market capitalization of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12-month low of $49.38 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the transaction, the chief financial officer now owns 189,761 shares in the company, valued at $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday. Robert W. Baird upped their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. DA Davidson lifted their price objective on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday. Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Thursday, February 6th. Finally, Bank of America lifted their price target on shares of Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.06.

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.