Swedbank AB Invests $10.86 Million in Carvana Co. (NYSE:CVNA)

Swedbank AB acquired a new stake in Carvana Co. (NYSE:CVNA) in the 4th quarter, Holdings Channel reports. The firm acquired 53,413 shares of the company’s stock, valued at approximately $10,862,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Forum Financial Management LP increased its position in shares of Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after buying an additional 76 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Carvana by 0.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after acquiring an additional 86 shares during the last quarter. Fifth Third Bancorp increased its holdings in Carvana by 37.6% during the 4th quarter. Fifth Third Bancorp now owns 322 shares of the company’s stock valued at $65,000 after acquiring an additional 88 shares in the last quarter. Empirical Asset Management LLC raised its position in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVNA. Piper Sandler lifted their price objective on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Thursday, January 2nd. Wells Fargo & Company decreased their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Carvana in a research note on Tuesday, January 7th. Finally, Evercore ISI raised their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.88.

Insider Activity at Carvana

In other news, Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the sale, the director now owns 53,407 shares in the company, valued at approximately $12,550,645. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 347,340 shares of company stock worth $81,044,588. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

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

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

Carvana 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.