California Public Employees Retirement System Decreases Holdings in Carvana Co. (NYSE:CVNA)

California Public Employees Retirement System lowered its position in Carvana Co. (NYSE:CVNA - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,357 shares of the company's stock after selling 11,889 shares during the period. California Public Employees Retirement System owned about 0.09% of Carvana worth $37,491,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVNA. Vanguard Group Inc. boosted its holdings in shares of Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after buying an additional 610,234 shares during the period. Lingotto Investment Management LLP lifted its position in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after acquiring an additional 57,215 shares in the last quarter. State Street Corp boosted its stake in Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after purchasing an additional 107,610 shares during the period. Geode Capital Management LLC increased its holdings in Carvana by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock worth $315,133,000 after purchasing an additional 131,059 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new position in Carvana during the 3rd quarter worth about $162,953,000. Institutional investors and hedge funds own 56.71% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVNA. Citigroup lifted their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Stephens reiterated an "overweight" rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Royal Bank of Canada boosted their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Morgan Stanley upgraded Carvana from an "underweight" rating to an "overweight" rating in a report on Monday, March 31st. Finally, Wells Fargo & Company lowered their target price on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.59.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company's stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 43,433 shares of Carvana stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the transaction, the chief financial officer now directly owns 214,678 shares of the company's stock, valued at approximately $44,925,665.06. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,810 shares of company stock valued at $61,698,820 in the last 90 days. Insiders own 17.12% of the company's stock.

Carvana Price Performance

Shares of CVNA stock traded up $5.02 during trading hours on Monday, hitting $167.59. 6,906,758 shares of the company's stock were exchanged, compared to its average volume of 4,008,329. The company has a market capitalization of $35.73 billion, a PE ratio of 106.75 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The business's 50 day simple moving average is $221.99 and its 200-day simple moving average is $219.74.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

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.