Avanza Fonder AB Acquires New Position in Carvana Co. (NYSE:CVNA)

Avanza Fonder AB bought a new position in Carvana Co. (NYSE:CVNA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,669 shares of the company’s stock, valued at approximately $2,373,000.

A number of other institutional investors have also modified their holdings of the stock. American Century Companies Inc. grew its stake in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after purchasing an additional 241 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Carvana by 155.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock worth $2,996,000 after buying an additional 14,174 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Carvana by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 33,805 shares of the company’s stock valued at $4,351,000 after buying an additional 1,136 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Carvana by 20.2% in the second quarter. Dimensional Fund Advisors LP now owns 353,664 shares of the company’s stock valued at $45,556,000 after acquiring an additional 59,482 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in Carvana by 29.4% in the second quarter. Edgestream Partners L.P. now owns 11,277 shares of the company’s stock worth $1,452,000 after acquiring an additional 2,559 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Down 0.6 %

NYSE CVNA opened at $230.59 on Friday. The stock has a market cap of $47.88 billion, a P/E ratio of 23,082.38 and a beta of 3.38. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12-month low of $40.21 and a 12-month high of $268.34. The company has a fifty day simple moving average of $231.78 and a two-hundred day simple moving average of $186.66.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. On average, analysts forecast that Carvana Co. will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares of the company’s stock, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,908 shares of company stock valued at $142,079,285 over the last quarter. 17.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on CVNA. Wells Fargo & Company cut their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Bank of America upped their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Finally, Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $195.00 to $277.00 in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.94.

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.