Teacher Retirement System of Texas Has $6.19 Million Stock Holdings in Carvana Co. $CVNA

Teacher Retirement System of Texas increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,360 shares of the company’s stock after buying an additional 1,468 shares during the period. Teacher Retirement System of Texas’ holdings in Carvana were worth $6,187,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after buying an additional 9,694 shares during the last quarter. Northern Trust Corp grew its position in shares of Carvana by 5.4% in the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock valued at $143,400,000 after buying an additional 35,168 shares during the last quarter. Finally, Contour Asset Management LLC grew its position in shares of Carvana by 71.4% in the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company’s stock valued at $134,462,000 after buying an additional 267,994 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other news, Director Ira J. Platt sold 14,000 shares of Carvana stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the transaction, the director directly owned 7,231 shares in the company, valued at $2,741,561.34. This trade represents a 65.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $360.20, for a total transaction of $36,020,000.00. Following the transaction, the insider owned 34,942,792 shares of the company’s stock, valued at $12,586,393,678.40. This represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 939,855 shares of company stock worth $338,492,060 in the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CVNA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Carvana in a research note on Thursday. Citigroup restated a “market outperform” rating on shares of Carvana in a report on Thursday. Gordon Haskett began coverage on shares of Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $460.00 price objective on shares of Carvana in a research report on Thursday. Finally, Stephens reaffirmed an “overweight” rating and set a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $418.00.

Carvana Price Performance

Shares of NYSE CVNA opened at $305.23 on Friday. The firm’s 50-day moving average price is $363.58 and its 200-day moving average price is $329.49. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33. The firm has a market capitalization of $65.69 billion, a P/E ratio of 69.69, a P/E/G ratio of 1.13 and a beta of 3.55. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 35.84%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the company posted $0.64 EPS. Carvana’s revenue for the quarter was up 54.5% on a year-over-year basis. Equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.