Illinois Municipal Retirement Fund Purchases New Shares in Carvana Co. (NYSE:CVNA)

Illinois Municipal Retirement Fund purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, Holdings Channel.com reports. The fund purchased 16,626 shares of the company’s stock, valued at approximately $880,000.

Other large investors also recently made changes to their positions in the company. Morgan Stanley lifted its position in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after purchasing an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. increased its position in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares during the period. FMR LLC increased its position in Carvana by 0.5% during the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after purchasing an additional 24,560 shares during the period. Charles Schwab Investment Management Inc. increased its position in Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares during the period. Finally, TD Asset Management Inc purchased a new position in Carvana during the 3rd quarter valued at $22,906,000. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

Shares of Carvana stock opened at $84.31 on Monday. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 156.13 and a beta of 3.32. The firm’s 50-day moving average is $77.47 and its 200 day moving average is $53.92. Carvana Co. has a 1 year low of $6.70 and a 1 year high of $94.04.

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

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,883 shares of company stock worth $15,505,178. Company insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVNA shares. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price (up from $60.00) on shares of Carvana in a research report on Thursday. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Carvana has an average rating of “Hold” and a consensus target price 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.