Carvana Co. (NYSE:CVNA) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in Carvana Co. (NYSE:CVNA) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 42,052 shares of the company’s stock after acquiring an additional 2,771 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Carvana were worth $8,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Eagle Asset Management Inc. purchased a new stake in Carvana during the third quarter valued at about $50,531,000. Oak Thistle LLC lifted its stake in Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after buying an additional 1,738 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after buying an additional 95,497 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Carvana during the fourth quarter valued at about $609,000. Finally, Calamos Advisors LLC purchased a new stake in Carvana during the fourth quarter valued at about $1,106,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,629 shares of company stock worth $44,833,799 over the last 90 days. Insiders own 17.12% of the company’s stock.

Carvana Trading Down 0.2 %

NYSE:CVNA opened at $284.67 on Wednesday. The stock’s 50 day moving average price is $234.25 and its 200 day moving average price is $206.38. Carvana Co. has a 52 week low of $48.15 and a 52 week high of $291.27. The company has a market capitalization of $59.11 billion, a P/E ratio of 28,495.80 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Evercore ISI upped their price objective on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

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.