Swedbank AB Makes New Investment in Carvana Co. (NYSE:CVNA)

Swedbank AB acquired a new stake in Carvana Co. (NYSE:CVNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 53,413 shares of the company’s stock, valued at approximately $10,862,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana during the third quarter worth $32,000. ORG Wealth Partners LLC acquired a new stake in Carvana in the 4th quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana in the 3rd quarter valued at about $40,000. Versant Capital Management Inc acquired a new position in shares of Carvana during the fourth quarter worth about $42,000. Finally, First Horizon Advisors Inc. raised its holdings in Carvana by 363.0% in the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $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.

Carvana Stock Performance

NYSE CVNA opened at $247.76 on Friday. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34. The business’s 50-day moving average price is $230.58 and its 200 day moving average price is $193.93. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a market cap of $51.44 billion, a P/E ratio of 24,800.30 and a beta of 3.38.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the company earned $0.23 EPS. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities research analysts expect that Carvana Co. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

CVNA has been the topic of a number of recent analyst reports. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Stephens reissued an “overweight” rating and issued a $300.00 target price on shares of Carvana in a report on Thursday, January 2nd. Piper Sandler lifted their price target on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Wedbush boosted their target price on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.88.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the completion of the transaction, the chief financial officer now directly owns 170,732 shares of the company’s stock, valued at approximately $41,279,582.96. This represents a 10.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value 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 trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 347,340 shares of company stock worth $81,044,588. 17.12% of the stock is owned by 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.