Teacher Retirement System of Texas Reduces Holdings in Carvana Co. (NYSE:CVNA)

Teacher Retirement System of Texas lowered its position in Carvana Co. (NYSE:CVNA) by 69.2% in the 4th quarter, HoldingsChannel reports. 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Carvana in the fourth quarter worth about $28,000. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% in 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 position in Carvana in the 4th quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in Carvana during the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Carvana during the fourth quarter worth $42,000. 56.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,377 shares of company stock valued at $44,251,096 in the last quarter. Insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CVNA. Needham & Company LLC reiterated a “buy” rating and set a $340.00 price objective on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada increased their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $261.53.

Carvana Price Performance

CVNA stock opened at $204.45 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market cap of $43.58 billion, a P/E ratio of 130.22 and a beta of 3.56. The firm’s fifty day moving average is $227.77 and its 200 day moving average is $216.41. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings data 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. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Research analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

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.