Andra AP fonden Sells 11,800 Shares of Carvana Co. $CVNA

Andra AP fonden trimmed its stake in Carvana Co. (NYSE:CVNA) by 51.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the company’s stock after selling 11,800 shares during the period. Andra AP fonden’s holdings in Carvana were worth $4,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Royal Bank of Canada boosted its position in shares of Carvana by 40.8% during the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after acquiring an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares during the period. AlphaQuest LLC grew its stake in Carvana by 41.3% in the 2nd quarter. AlphaQuest LLC now owns 424 shares of the company’s stock worth $143,000 after acquiring an additional 124 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Carvana during the 2nd quarter worth $225,000. Finally, Envestnet Asset Management Inc. increased its position in Carvana by 112.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 97,771 shares of the company’s stock valued at $32,945,000 after purchasing an additional 51,776 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Thomas Taira sold 30,952 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $435.96, for a total value of $13,493,833.92. Following the transaction, the insider directly owned 69,880 shares of the company’s stock, valued at $30,464,884.80. This trade represents a 30.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $439.50, for a total value of $35,160,000.00. Following the sale, the insider owned 191,106 shares in the company, valued at $83,991,087. This trade represents a 29.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 390,351 shares of company stock worth $168,588,549. 17.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BTIG Research reduced their target price on shares of Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Carvana in a report on Thursday, January 8th. Jefferies Financial Group dropped their price objective on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. JPMorgan Chase & Co. lowered their price target on Carvana from $510.00 to $490.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded Carvana from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $440.59.

Carvana Stock Down 5.5%

Carvana stock opened at $334.31 on Friday. The stock’s fifty day simple moving average is $411.14 and its 200-day simple moving average is $381.26. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $486.89. The firm has a market capitalization of $73.16 billion, a P/E ratio of 41.58 and a beta of 3.57.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $1.10 by $3.12. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm’s revenue was up 58.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. As a group, equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.