Arizona State Retirement System Acquires 2,780 Shares of Carvana Co. (NYSE:CVNA)

Arizona State Retirement System lifted its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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 SEC filing.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC lifted its position in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Lingotto Investment Management LLP raised its position in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after acquiring an additional 57,215 shares in the last quarter. State Street Corp raised its position in Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after acquiring an additional 107,610 shares in the last quarter. Geode Capital Management LLC raised its position in Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock worth $315,133,000 after acquiring an additional 131,059 shares in the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in Carvana during the third quarter worth $162,953,000. Institutional investors own 56.71% of the company's stock.

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Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,629 shares of company stock worth $30,866,419 over the last ninety days. Corporate insiders own 17.18% of the company's stock.

Carvana Price Performance

Carvana stock traded up $1.34 during trading hours on Friday, reaching $188.19. 8,347,166 shares of the stock were exchanged, compared to its average volume of 4,293,713. The company has a market cap of $40.11 billion, a P/E ratio of 119.86 and a beta of 3.56. 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 twelve month low of $67.61 and a twelve month high of $292.84. The stock has a 50 day moving average of $231.41 and a two-hundred day moving average of $213.28.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Equities analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVNA. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Royal Bank of Canada upped 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. Wedbush set a $250.00 price target on shares of Carvana and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Citigroup increased their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $265.94.

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.