Teacher Retirement System of Texas Sells 18,404 Shares of Carvana Co. (NYSE:CVNA)

Teacher Retirement System of Texas lessened its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 69.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,198 shares of the company's stock after selling 18,404 shares during the period. Teacher Retirement System of Texas' holdings in Carvana were worth $1,667,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVNA. Quent Capital LLC acquired a new stake in shares of Carvana during the fourth quarter worth $28,000. Global Retirement Partners LLC raised its holdings in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC purchased a new stake in Carvana during the fourth quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc purchased a new position in shares of Carvana in the fourth quarter worth approximately $42,000. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

Carvana stock traded up $4.74 during mid-day trading on Monday, hitting $209.15. 4,838,402 shares of the company were exchanged, compared to its average volume of 3,919,676. The business has a fifty day moving average of $226.82 and a 200 day moving average of $218.57. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a market capitalization of $44.58 billion, a PE ratio of 133.21 and a beta of 3.56.

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Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other Carvana news, insider Thomas Taira sold 27,593 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock valued at $44,251,096 in the last ninety days. 17.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVNA shares. Citigroup upped their price target 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. DA Davidson raised their target price on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their price target on Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Stephens reissued an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Finally, Piper Sandler raised Carvana from a "neutral" rating to an "overweight" rating in a research note on Monday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $261.53.

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.