Teacher Retirement System of Texas Sells 18,404 Shares of Carvana Co. (NYSE:CVNA)

Teacher Retirement System of Texas decreased its holdings in Carvana Co. (NYSE:CVNA) by 69.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,198 shares of the company’s stock after selling 18,404 shares during the quarter. Teacher Retirement System of Texas’ holdings in Carvana were worth $1,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of Carvana in the 4th quarter valued at about $28,000. Global Retirement Partners LLC boosted 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 acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc acquired a new position in shares of Carvana in the 4th quarter worth approximately $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 0.2 %

CVNA stock opened at $204.45 on Friday. The firm has a market capitalization of $43.58 billion, a PE ratio of 130.22 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana Co. has a twelve month low of $67.61 and a twelve month high of $292.84. The stock’s 50 day moving average is $227.77 and its 200-day moving average is $216.41.

Carvana (NYSE:CVNA) last issued 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 business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Sell-side analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the firm’s 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 directly owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,377 shares of company stock valued at $44,251,096. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVNA. Bank of America lowered their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. decreased their target price on 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 report on Monday, March 3rd. Finally, Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.53.

About Carvana

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.