Avanza Fonder AB Acquires Shares of 11,669 Carvana Co. (NYSE:CVNA)

Avanza Fonder AB bought a new position in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent Form 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 recently modified their holdings of the business. ORG Wealth Partners LLC purchased a new position in Carvana during the fourth quarter worth approximately $34,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the 3rd quarter worth approximately $32,000. Versant Capital Management Inc purchased a new position in shares of Carvana during the 4th quarter valued at approximately $42,000. Capital Performance Advisors LLP acquired a new stake in Carvana in the 3rd quarter valued at $40,000. Finally, First Horizon Advisors Inc. increased its holdings in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00. Following the transaction, the insider now directly owns 37,658,131 shares in the company, valued at approximately $7,184,794,813.49. This represents a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 14,548 shares of Carvana stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the completion of the sale, the insider now owns 119,494 shares of the company’s stock, valued at $23,659,812. This trade represents a 10.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 651,908 shares of company stock valued at $142,079,285 in the last quarter. Insiders own 17.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Carvana in a report on Tuesday, January 7th. Evercore ISI raised their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Bank of America raised their target price on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $195.00 to $277.00 in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.94.

Carvana Price Performance

Shares of CVNA stock opened at $230.59 on Friday. The firm’s 50-day moving average is $231.78 and its two-hundred day moving average is $186.66. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a market capitalization of $47.88 billion, a PE ratio of 23,082.38 and a beta of 3.38.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The company’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Analysts predict that Carvana Co. will post 0.88 earnings per share for the current year.

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.