California State Teachers Retirement System Grows Position in Carvana Co. (NYSE:CVNA)

California State Teachers Retirement System raised its position in Carvana Co. (NYSE:CVNA - Free Report) by 81.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 181,249 shares of the company's stock after purchasing an additional 81,414 shares during the period. California State Teachers Retirement System owned 0.09% of Carvana worth $36,859,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Fifth Third Bancorp lifted its position in shares of Carvana by 37.6% in the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company's stock worth $65,000 after purchasing an additional 88 shares during the period. KBC Group NV lifted its position in shares of Carvana by 220.5% during the 4th quarter. KBC Group NV now owns 9,186 shares of the company's stock valued at $1,868,000 after acquiring an additional 6,320 shares during the period. R Squared Ltd acquired a new position in shares of Carvana during the 4th quarter valued at $171,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Carvana during the 4th quarter valued at $957,000. Finally, Smith Group Asset Management LLC acquired a new position in shares of Carvana during the 4th quarter valued at $571,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Citigroup boosted their target price on shares of Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America boosted their target price on shares of Carvana from $290.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, Royal Bank of Canada upped their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.65.

Insider Activity at Carvana

In related news, CEO Ernest C. Garcia III sold 3,086 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $324.54, for a total transaction of $1,001,530.44. Following the completion of the transaction, the chief executive officer now owns 795,000 shares in the company, valued at approximately $258,009,300. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the transaction, the chief financial officer now owns 214,678 shares of the company's stock, valued at approximately $44,925,665.06. The trade was a 16.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 702,813 shares of company stock worth $180,971,479. 17.12% of the stock is owned by company insiders.

Carvana Stock Up 2.3%

Shares of NYSE CVNA traded up $7.26 during trading on Friday, hitting $326.91. The stock had a trading volume of 4,458,631 shares, compared to its average volume of 3,958,313. Carvana Co. has a 12 month low of $97.55 and a 12 month high of $327.75. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a market capitalization of $70.01 billion, a PE ratio of 208.22 and a beta of 3.61. The firm has a fifty day moving average of $245.17 and a two-hundred day moving average of $235.13.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The business's revenue was up 38.3% compared to the same quarter last year. As a group, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.