Carvana Co. (NYSE:CVNA) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 106.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,892 shares of the company's stock after acquiring an additional 8,694 shares during the period. Teacher Retirement System of Texas' holdings in Carvana were worth $3,532,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVNA. J.Safra Asset Management Corp boosted its position in shares of Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after purchasing an additional 1,982 shares during the period. Raymond James Financial Inc. purchased a new stake in Carvana during the fourth quarter valued at $60,866,000. Worldquant Millennium Advisors LLC purchased a new stake in Carvana during the fourth quarter valued at $51,091,000. Farther Finance Advisors LLC raised its stake in shares of Carvana by 333.1% in the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after acquiring an additional 2,678 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Carvana in the fourth quarter valued at $36,527,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 51,380 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the sale, the chief financial officer directly owned 162,079 shares in the company, valued at $52,842,616.37. This represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares in the company, valued at $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,406,961 shares of company stock worth $453,477,396. Insiders own 16.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVNA. Stephens raised their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday. Citigroup raised their price target on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America increased their price objective on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. JMP Securities set a $440.00 price objective on shares of Carvana and gave the company a "market outperform" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a report on Saturday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $303.59.

Carvana Price Performance

CVNA traded up $4.69 on Wednesday, hitting $350.61. 1,901,168 shares of the company's stock were exchanged, compared to its average volume of 3,851,351. Carvana Co. has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The firm has a 50-day moving average price of $310.23 and a 200-day moving average price of $250.09. The stock has a market cap of $75.08 billion, a price-to-earnings ratio of 123.02, a P/E/G ratio of 1.39 and a beta of 3.59.

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