State of New Jersey Common Pension Fund D Has $16.10 Million Holdings in Carvana Co. $CVNA

State of New Jersey Common Pension Fund D boosted its holdings in Carvana Co. (NYSE:CVNA) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,665 shares of the company’s stock after purchasing an additional 1,728 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Carvana were worth $16,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CVNA. ORG Partners LLC raised its position in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Carvana during the third quarter worth approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Carvana during the 2nd quarter worth $38,000. Elevation Point Wealth Partners LLC bought a new position in Carvana during the 2nd quarter worth $49,000. Finally, SJS Investment Consulting Inc. raised its holdings in Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other news, insider Thomas Taira sold 1,047 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $398.54, for a total value of $417,271.38. Following the completion of the transaction, the insider directly owned 66,625 shares in the company, valued at approximately $26,552,727.50. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,527 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $725,325.00. Following the sale, the insider owned 69,289 shares in the company, valued at $32,912,275. This represents a 2.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 420,351 shares of company stock valued at $179,589,049. Corporate insiders own 16.36% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several analyst reports. Gordon Haskett reduced their target price on Carvana from $445.00 to $435.00 and set a “hold” rating on the stock in a report on Monday, January 5th. DA Davidson set a $360.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Barclays raised their target price on shares of Carvana from $465.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Carvana in a research report on Tuesday, January 13th. Finally, Jefferies Financial Group increased their price target on shares of Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $474.27.

Carvana Stock Down 0.2%

CVNA stock opened at $343.31 on Tuesday. The firm has a 50-day moving average price of $432.45 and a 200-day moving average price of $382.37. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $486.89. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $74.68 billion, a P/E ratio of 78.38 and a beta of 3.57.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.