16,626 Shares in Carvana Co. (NYSE:CVNA) Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,626 shares of the company’s stock, valued at approximately $880,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in shares of Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after buying an additional 319 shares during the last quarter. Arizona State Retirement System raised its position in shares of Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock valued at $1,079,000 after buying an additional 377 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at about $29,000. New York State Common Retirement Fund raised its position in shares of Carvana by 1.4% in the third quarter. New York State Common Retirement Fund now owns 40,263 shares of the company’s stock valued at $1,690,000 after buying an additional 563 shares during the last quarter. Finally, PFG Investments LLC raised its position in shares of Carvana by 2.5% in the fourth quarter. PFG Investments LLC now owns 25,438 shares of the company’s stock valued at $1,347,000 after buying an additional 615 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $84.31 on Monday. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 156.13 and a beta of 3.32. Carvana Co. has a 1-year low of $6.70 and a 1-year high of $94.04. The company has a 50 day moving average price of $77.47 and a 200 day moving average price of $53.92.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the company earned ($0.97) earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, sell-side analysts expect that Carvana Co. will post -3.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the completion of the transaction, the vice president now owns 62,514 shares of the company’s stock, valued at approximately $5,423,089.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now owns 62,514 shares in the company, valued at approximately $5,423,089.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the transaction, the insider now owns 115,032 shares in the company, valued at approximately $10,237,848. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,883 shares of company stock valued at $15,505,178. Company insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and raised their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Robert W. Baird raised their price objective on shares of Carvana from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Carvana in a research note on Wednesday, April 17th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price objective (up previously from $60.00) on shares of Carvana in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.87.

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.