State of New Jersey Common Pension Fund D Sells 20,162 Shares of Carvana Co. (NYSE:CVNA)

State of New Jersey Common Pension Fund D lessened its position in shares of Carvana Co. (NYSE:CVNA) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,277 shares of the company’s stock after selling 20,162 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Carvana were worth $4,798,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CVNA. Ridgewood Investments LLC bought a new position in shares of Carvana during the 2nd quarter worth approximately $32,000. Parallel Advisors LLC raised its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Summit Securities Group LLC raised its stake in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Tidemark LLC bought a new position in shares of Carvana during the 4th quarter worth approximately $50,000. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now directly owns 359,370 shares in the company, valued at $53,905,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $108.86, for a total value of $6,531,600.00. Following the completion of the transaction, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $115,119,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Gill sold 20,000 shares of Carvana stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares in the company, valued at approximately $53,905,500. The disclosure for this sale can be found here. Insiders sold 2,481,866 shares of company stock worth $338,115,484 over the last ninety days. 17.12% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

CVNA opened at $152.70 on Tuesday. The stock has a market cap of $31.60 billion, a PE ratio of 66.97 and a beta of 3.43. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana Co. has a 1 year low of $25.09 and a 1 year high of $159.85. The stock’s 50 day simple moving average is $140.31 and its 200-day simple moving average is $113.19.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Sell-side analysts forecast that Carvana Co. will post 0.18 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on CVNA shares. BTIG Research upped their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird initiated coverage on shares of Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target on the stock. Piper Sandler upped their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. DA Davidson upped their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Wedbush raised shares of Carvana to a “neutral” rating and increased their price target for the stock from $120.00 to $150.00 in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.94.

Carvana 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.