49,983 Shares in Carvana Co. (NYSE:CVNA) Purchased by Forsta AP Fonden

Forsta AP Fonden bought a new stake in Carvana Co. (NYSE:CVNA) during the fourth quarter, Holdings Channel.com reports. The fund bought 49,983 shares of the company’s stock, valued at approximately $10,165,000.

Several other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. State Street Corp raised its position in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after buying an additional 107,610 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after buying an additional 131,059 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Carvana during the third quarter worth about $162,953,000. Finally, Holocene Advisors LP increased its stake in Carvana by 108.2% during the third quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock valued at $96,476,000 after acquiring an additional 287,983 shares during the period. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

CVNA stock opened at $243.99 on Friday. The stock has a market cap of $50.66 billion, a PE ratio of 24,423.42 and a beta of 3.38. The stock has a 50-day moving average price of $230.82 and a two-hundred day moving average price of $193.19. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34. 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 (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The company’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts forecast that Carvana Co. will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVNA. Evercore ISI boosted their price objective on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Robert W. Baird raised their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and upped their price target for the stock from $195.00 to $277.00 in a research report on Wednesday, January 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.94.

Insider Transactions at Carvana

In other Carvana news, Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now directly owns 53,407 shares in the company, valued at $12,550,645. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on 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 owns 189,097 shares in the company, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,340 shares of company stock valued at $81,044,588 over the last 90 days. 17.12% of the stock is owned by corporate insiders.

About Carvana

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.