New York State Common Retirement Fund Increases Stock Position in Carvana Co. (NYSE:CVNA)

New York State Common Retirement Fund raised its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,901 shares of the company's stock after purchasing an additional 8,849 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Carvana worth $27,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Driehaus Capital Management LLC raised its holdings in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock valued at $74,888,000 after buying an additional 323,153 shares in the last quarter. Integrated Advisors Network LLC raised its stake in shares of Carvana by 89.2% during the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company's stock worth $9,229,000 after acquiring an additional 24,996 shares in the last quarter. Highland Capital Management LLC purchased a new position in shares of Carvana during the third quarter worth approximately $1,314,000. Legacy Capital Group California Inc. bought a new stake in shares of Carvana in the 3rd quarter worth approximately $1,248,000. Finally, Chicago Capital LLC purchased a new stake in shares of Carvana in the 3rd quarter valued at $940,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler boosted their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research note on Thursday. Citigroup raised their price target on Carvana from $125.00 to $195.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. DA Davidson boosted their price objective on Carvana from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. TD Cowen raised their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on shares of Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Carvana has an average rating of "Hold" and a consensus price target of $208.88.

Carvana Stock Down 1.3 %

Shares of NYSE CVNA traded down $3.00 during mid-day trading on Monday, hitting $226.08. 3,836,959 shares of the stock traded hands, compared to its average volume of 4,830,092. The stock has a fifty day moving average price of $174.33 and a 200-day moving average price of $138.72. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.02 and a current ratio of 3.25. The company has a market cap of $46.78 billion, a price-to-earnings ratio of 22,630.63 and a beta of 3.37. Carvana Co. has a 52 week low of $27.75 and a 52 week high of $259.39.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. The company's revenue was up 31.8% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. Research analysts anticipate that Carvana Co. will post 0.26 EPS for the current year.

Insider Activity

In other Carvana news, insider Paul W. Breaux sold 30,000 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.22, for a total value of $7,206,600.00. Following the sale, the insider now directly owns 135,025 shares of the company's stock, valued at approximately $32,435,705.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Carvana news, insider Paul W. Breaux sold 30,000 shares of Carvana stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.22, for a total value of $7,206,600.00. Following the completion of the transaction, the insider now directly owns 135,025 shares of the company's stock, valued at approximately $32,435,705.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,738,934 shares of company stock worth $463,538,905. Insiders own 17.12% of the company's stock.

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.