Nordea Investment Management AB Acquires 86,398 Shares of Carvana Co. $CVNA

Nordea Investment Management AB lifted its holdings in Carvana Co. (NYSE:CVNA) by 173.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,115 shares of the company’s stock after acquiring an additional 86,398 shares during the period. Nordea Investment Management AB’s holdings in Carvana were worth $51,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after purchasing an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after buying an additional 181 shares during the period. Strs Ohio bought a new stake in Carvana in the first quarter worth $852,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Carvana by 273.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,986 shares of the company’s stock worth $1,006,000 after buying an additional 2,186 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in Carvana during the second quarter valued at $832,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Carvana stock opened at $459.26 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company has a market capitalization of $99.91 billion, a PE ratio of 104.85, a P/E/G ratio of 1.13 and a beta of 3.54. The company has a 50 day moving average price of $400.36 and a 200-day moving average price of $370.62. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $485.33.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, equities analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several analyst reports. Gordon Haskett lowered their target price on shares of Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a report on Monday, January 5th. Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $460.00 price target on shares of Carvana in a report on Thursday, October 30th. Finally, Bank of America boosted their price objective on Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average target price of $458.18.

Insider Activity

In related news, Director Michael E. Maroone sold 30,928 shares of Carvana stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the completion of the sale, the director directly owned 143,573 shares in the company, valued at $57,478,014.82. The trade was a 17.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 40,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the transaction, the chief operating officer owned 100,758 shares in the company, valued at approximately $44,283,141. The trade was a 28.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 467,626 shares of company stock valued at $192,090,109. Company insiders own 17.12% of the company’s stock.

Carvana Company Profile

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.