Carvana Co. $CVNA Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of Carvana Co. (NYSE:CVNA) by 277.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 345,837 shares of the company’s stock after acquiring an additional 254,114 shares during the period. Handelsbanken Fonder AB’s holdings in Carvana were worth $22,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CVNA. Farmers & Merchants Investments Inc. purchased a new position in Carvana during the fourth quarter valued at $29,000. Motiv8 Investments LLC purchased a new stake in shares of Carvana during the fourth quarter worth about $33,000. Ascentis Independent Advisors purchased a new stake in shares of Carvana during the first quarter worth about $26,000. Salomon & Ludwin LLC raised its position in shares of Carvana by 112.5% during the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of several research analyst reports. Citigroup lowered their price objective on Carvana from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Hovde Group increased their target price on Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Stephens raised their target price on Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. Jefferies Financial Group lowered their price target on Carvana from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $80.00 price target on shares of Carvana in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Stock Performance

CVNA opened at $72.30 on Thursday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The firm has a market capitalization of $79.56 billion, a PE ratio of 39.99, a PEG ratio of 2.66 and a beta of 3.46. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $66.90 and its 200 day moving average price is $69.47.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. Carvana’s quarterly revenue was up 52.4% on a year-over-year basis. As a group, sell-side analysts expect that Carvana Co. will post 1.65 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, Director Michael E. Maroone bought 25,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $61.80 per share, for a total transaction of $1,545,000.00. Following the acquisition, the director directly owned 168,573 shares in the company, valued at $10,417,811.40. This represents a 17.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $64.50, for a total value of $4,111,875.00. Following the completion of the sale, the chief financial officer directly owned 1,156,534 shares of the company’s stock, valued at $74,596,443. This trade represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 391,372 shares of company stock valued at $26,555,789. 15.19% of the stock is currently owned by company insiders.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.