E. Ohman J or Asset Management AB Takes Position in Carvana Co. (NYSE:CVNA)

E. Ohman J or Asset Management AB purchased a new stake in Carvana Co. (NYSE:CVNA) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 5,150 shares of the company’s stock, valued at approximately $1,047,000.

Other institutional investors have also made changes to their positions in the company. Eagle Asset Management Inc. acquired a new position in Carvana during the 3rd quarter valued at approximately $50,531,000. Oak Thistle LLC boosted its position in Carvana by 115.9% during the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the period. Assenagon Asset Management S.A. boosted its position in Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after purchasing an additional 95,497 shares during the period. Central Pacific Bank Trust Division acquired a new position in Carvana during the 4th quarter valued at approximately $609,000. Finally, Swiss National Bank boosted its position in Carvana by 6.9% during the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after purchasing an additional 13,400 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVNA. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Jefferies Financial Group boosted their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Bank of America boosted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.88.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’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 owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,845 shares of company stock worth $30,742,656 over the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

Carvana Stock Performance

Shares of NYSE CVNA opened at $256.08 on Thursday. The business’s 50-day moving average price is $230.46 and its two-hundred day moving average price is $196.87. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana Co. has a one year low of $43.87 and a one year high of $268.34. The company has a market capitalization of $53.17 billion, a P/E ratio of 25,633.83 and a beta of 3.37.

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.