Illinois Municipal Retirement Fund Sells 2,785 Shares of Carvana Co. (NYSE:CVNA)

Illinois Municipal Retirement Fund lessened its holdings in shares of Carvana Co. (NYSE:CVNA) by 16.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,841 shares of the company’s stock after selling 2,785 shares during the period. Illinois Municipal Retirement Fund’s holdings in Carvana were worth $2,815,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. bought a new position in Carvana in the 3rd quarter worth approximately $50,531,000. Oak Thistle LLC grew its stake in shares of Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after acquiring an additional 1,738 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after acquiring an additional 95,497 shares during the period. Central Pacific Bank Trust Division acquired a new position in Carvana during the 4th quarter valued at $609,000. Finally, Calamos Advisors LLC bought a new stake in Carvana in the 4th quarter valued at $1,106,000. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Evercore ISI boosted their price target on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Thursday, February 6th. Citigroup lifted their price objective on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler upped their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.06.

Carvana Trading Down 3.9 %

Shares of Carvana stock opened at $223.66 on Friday. The stock has a market capitalization of $46.44 billion, a P/E ratio of 142.46 and a beta of 3.37. Carvana Co. has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a 50-day simple moving average of $232.89 and a 200 day simple moving average of $210.26.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,629 shares of company stock worth $44,833,799. 17.18% of the stock is currently owned by insiders.

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.