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Texas' Teacher Retirement System cut Carvana holdings by nearly 69%, despite the company beating Q4 earnings.
The Teacher Retirement System of Texas reduced its holdings in Carvana Co. by 69.2%, now owning 8,198 shares worth $1,667,000.
Carvana, an e-commerce platform for buying and selling used cars, beat Q4 earnings estimates, reporting $0.56 per share and $3.55 billion in revenue.
Insiders have recently sold shares, including CFO Mark W. Jenkins and COO Benjamin E. Huston.
Morgan Stanley upgraded Carvana's rating and increased its price target to $280.00.
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El Sistema de Jubilación de Maestros de Texas redujo las tenencias de Carvana en casi un 69%, a pesar de que la compañía venció las ganancias del Q4.