California State Teachers Retirement System Has $63.87 Million Stock Position in Carvana Co. $CVNA

California State Teachers Retirement System increased its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 376.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 970,319 shares of the company's stock after buying an additional 766,804 shares during the period. California State Teachers Retirement System owned 0.09% of Carvana worth $63,866,397 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CVNA. Capital Research Global Investors boosted its position in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company's stock valued at $2,405,959,000 after acquiring an additional 1,711,144 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carvana by 55.4% during the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company's stock valued at $1,632,763,000 after acquiring an additional 1,382,852 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Carvana by 345.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company's stock worth $218,867,000 after purchasing an additional 2,579,295 shares during the period. Sands Capital Management LLC boosted its holdings in shares of Carvana by 44.4% in the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company's stock valued at $1,030,798,000 after buying an additional 751,019 shares in the last quarter. Finally, Spruce House Investment Management LLC boosted its holdings in Carvana by 2.6% during the first quarter. Spruce House Investment Management LLC now owns 2,335,000 shares of the company's stock worth $734,077,000 after buying an additional 60,000 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity

In other news, Director Ira Platt sold 15,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the sale, the director owned 186,470 shares of the company's stock, valued at $14,078,485. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Jenkins sold 63,750 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $4,561,312.50. Following the completion of the transaction, the chief financial officer owned 1,149,518 shares in the company, valued at approximately $82,248,012.90. This represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 385,775 shares of company stock worth $26,504,588 in the last quarter. Corporate insiders own 15.19% of the company's stock.

Carvana Stock Down 3.6%

Shares of NYSE CVNA traded down $2.59 during mid-day trading on Tuesday, reaching $68.28. 3,338,920 shares of the company's stock traded hands, compared to its average volume of 13,746,144. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The business has a 50-day simple moving average of $69.45 and a 200 day simple moving average of $68.47. The stock has a market cap of $75.14 billion, a P/E ratio of 37.79, a PEG ratio of 1.99 and a beta of 3.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business's revenue for the quarter was up 52.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. On average, analysts expect that Carvana Co. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the stock an "outperform" rating in a report on Thursday, July 30th. UBS Group reaffirmed a "buy" rating and set a $83.00 price objective on shares of Carvana in a research report on Friday, July 31st. BNP Paribas Exane decreased their price target on Carvana from $86.00 to $69.00 and set a "hold" rating for the company in a research report on Thursday, July 30th. Citigroup reissued a "market outperform" rating on shares of Carvana in a research report on Monday, August 31st. Finally, Jefferies Financial Group reduced their price objective on shares of Carvana from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average price target of $84.14.

Carvana Company Profile

Carvana Co NYSE: CVNA is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.

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