Swedbank AB Has $28.93 Million Holdings in Carvana Co. $CVNA

Swedbank AB lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,684 shares of the company’s stock after selling 7,004 shares during the quarter. Swedbank AB’s holdings in Carvana were worth $28,928,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Warren Street Wealth Advisors LLC boosted its position in Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after purchasing an additional 31 shares during the period. MAI Capital Management lifted its stake in shares of Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock worth $592,000 after buying an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after buying an additional 31 shares during the period. Kingsview Wealth Management LLC grew its stake in Carvana by 1.2% in the 2nd quarter. Kingsview Wealth Management LLC now owns 4,611 shares of the company’s stock valued at $1,554,000 after buying an additional 53 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Carvana by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after acquiring an additional 60 shares during the period. 56.71% of the stock is owned by institutional investors.

Carvana Price Performance

Shares of NYSE:CVNA opened at $441.41 on Friday. The firm has a market capitalization of $96.02 billion, a PE ratio of 100.78, a PEG ratio of 1.44 and a beta of 3.51. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $485.33. The business’s 50 day moving average is $370.72 and its 200-day moving average is $358.15.

Carvana (NYSE:CVNA) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on CVNA. Citigroup upped their price target on shares of Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a report on Friday, December 12th. UBS Group initiated coverage on Carvana in a research note on Monday, December 1st. They set a “buy” rating and a $450.00 target price for the company. Jefferies Financial Group raised their target price on Carvana from $475.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Barclays upped their price target on Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $446.32.

Insider Activity at Carvana

In other news, insider Ryan S. Keeton sold 32,370 shares of Carvana stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the sale, the insider directly owned 115,456 shares in the company, valued at approximately $34,830,766.08. The trade was a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $439.50, for a total transaction of $35,160,000.00. Following the completion of the sale, the insider directly owned 191,106 shares in the company, valued at approximately $83,991,087. The trade was a 29.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 544,332 shares of company stock worth $221,258,662 in the last ninety days. Company insiders own 17.12% of the company’s stock.

Carvana 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.