State of New Jersey Common Pension Fund D Reduces Holdings in Carvana Co. (NYSE:CVNA)

State of New Jersey Common Pension Fund D cut its position in shares of Carvana Co. (NYSE:CVNAGet Rating) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,533 shares of the company’s stock after selling 4,138 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Carvana were worth $1,290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVNA. Mitsubishi UFJ Trust & Banking Corp increased its stake in Carvana by 12.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,402 shares of the company’s stock valued at $9,922,000 after purchasing an additional 48,522 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Carvana by 161.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,500 shares of the company’s stock valued at $373,000 after acquiring an additional 10,200 shares during the last quarter. Forsta AP Fonden purchased a new stake in Carvana during the second quarter valued at about $72,000. State Board of Administration of Florida Retirement System lifted its stake in Carvana by 20.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 109,638 shares of the company’s stock valued at $2,476,000 after buying an additional 18,327 shares in the last quarter. Finally, Equitec Proprietary Markets LLC purchased a new stake in shares of Carvana in the second quarter worth approximately $142,000. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC lowered shares of Carvana from a “buy” rating to a “hold” rating in a research report on Friday, December 9th. Wedbush restated a “sell” rating and set a $1.00 target price on shares of Carvana in a research report on Wednesday, December 28th. JMP Securities decreased their price objective on Carvana from $70.00 to $45.00 and set a “market outperform” rating for the company in a research report on Friday, October 21st. William Blair downgraded Carvana from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 7th. Finally, Cowen cut Carvana from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.65.

Carvana Stock Performance

Carvana stock opened at $6.49 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of -0.73 and a beta of 2.41. Carvana Co. has a fifty-two week low of $3.55 and a fifty-two week high of $167.00. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. The company has a 50 day moving average price of $6.07 and a 200-day moving average price of $19.77.

Carvana (NYSE:CVNAGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($2.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($0.65). Carvana had a negative net margin of 5.99% and a negative return on equity of 191.74%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.64 billion. As a group, equities analysts forecast that Carvana Co. will post -9.88 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill acquired 133,000 shares of the business’s stock in a transaction on Monday, November 21st. The stock was bought at an average price of $7.62 per share, for a total transaction of $1,013,460.00. Following the acquisition, the insider now owns 263,415 shares in the company, valued at $2,007,222.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Daniel J. Gill acquired 133,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was purchased at an average price of $7.62 per share, with a total value of $1,013,460.00. Following the transaction, the insider now owns 263,415 shares of the company’s stock, valued at approximately $2,007,222.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory B. Sullivan acquired 8,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were bought at an average cost of $10.00 per share, with a total value of $80,000.00. Following the transaction, the director now directly owns 17,392 shares in the company, valued at approximately $173,920. The disclosure for this purchase can be found here. Insiders purchased a total of 251,000 shares of company stock worth $2,065,760 in the last 90 days. Insiders own 10.70% of the company’s stock.

Carvana Profile

(Get Rating)

Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.

Featured Articles

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNAGet Rating).

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.