Illinois Municipal Retirement Fund Sells 1,586 Shares of Carvana Co. (NYSE:CVNA)

Illinois Municipal Retirement Fund reduced its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,255 shares of the company's stock after selling 1,586 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Carvana were worth $2,562,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CVNA. Global Retirement Partners LLC lifted its holdings in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth approximately $31,000. Transce3nd LLC acquired a new stake in Carvana in the fourth quarter worth $48,000. Versant Capital Management Inc increased its position in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after buying an additional 82 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Carvana during the 4th quarter valued at about $75,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CVNA shares. Morgan Stanley lifted their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Stephens reiterated an "overweight" rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Royal Bank Of Canada raised their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. JMP Securities dropped their target price on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $284.18.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the sale, the insider now owns 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $303.97, for a total value of $3,039,700.00. Following the completion of the transaction, the chief executive officer now owns 845,000 shares in the company, valued at approximately $256,854,650. This represents a 1.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,310,544 shares of company stock valued at $406,383,249 over the last quarter. 16.36% of the stock is owned by company insiders.

Carvana Price Performance

Shares of Carvana stock opened at $319.87 on Monday. The company has a 50-day simple moving average of $293.50 and a two-hundred day simple moving average of $244.97. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $351.43. The stock has a market capitalization of $68.50 billion, a price-to-earnings ratio of 112.24, a price-to-earnings-growth ratio of 1.24 and a beta of 3.65. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The firm's quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. Analysts forecast that Carvana Co. will post 2.85 EPS 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.

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