State of New Jersey Common Pension Fund D Grows Stake in Carvana Co. (NYSE:CVNA)

State of New Jersey Common Pension Fund D increased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,281 shares of the company's stock after buying an additional 2,004 shares during the period. State of New Jersey Common Pension Fund D's holdings in Carvana were worth $6,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CVNA. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company's stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Sylebra Capital LLC bought a new stake in Carvana during the second quarter valued at approximately $67,686,000. Senator Investment Group LP bought a new position in shares of Carvana in the second quarter worth approximately $63,767,000. Driehaus Capital Management LLC boosted its position in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company's stock worth $74,888,000 after acquiring an additional 323,153 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Carvana in the second quarter valued at $39,997,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the transaction, the insider now directly owns 40,583,131 shares of the company's stock, valued at $5,508,348,370.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the sale, the insider now owns 40,583,131 shares in the company, valued at approximately $5,508,348,370.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the sale, the insider now owns 690,814 shares in the company, valued at approximately $102,710,225.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,727,913 shares of company stock worth $483,483,922. Corporate insiders own 17.12% of the company's stock.

Carvana Stock Down 2.3 %

CVNA stock traded down $5.80 during mid-day trading on Tuesday, reaching $244.26. 1,065,002 shares of the company traded hands, compared to its average volume of 4,758,498. The stock has a market cap of $50.72 billion, a price-to-earnings ratio of 25,027.03 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 fifty-two week low of $27.75 and a fifty-two week high of $259.39. The firm's 50 day moving average price is $184.61 and its 200 day moving average price is $145.72.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the firm posted $0.23 EPS. The company's revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities research analysts predict that Carvana Co. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVNA. Robert W. Baird upped their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. BTIG Research upped their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Citigroup increased their price target on Carvana from $125.00 to $195.00 and gave the stock a "neutral" rating in a report on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $217.71.

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.