Handelsbanken Fonder AB Grows Stake in Carvana Co. (NYSE:CVNA)

Handelsbanken Fonder AB grew its position in Carvana Co. (NYSE:CVNA) by 240.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,222 shares of the company’s stock after buying an additional 65,822 shares during the quarter. Handelsbanken Fonder AB’s holdings in Carvana were worth $18,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its holdings in Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the period. State Street Corp boosted its position in Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after acquiring an additional 107,610 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after acquiring an additional 131,059 shares during the period. Whale Rock Capital Management LLC bought a new position in shares of Carvana in the 3rd quarter worth $162,953,000. Finally, Holocene Advisors LP lifted its stake in shares of Carvana by 108.2% during the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock worth $96,476,000 after purchasing an additional 287,983 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’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 transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is owned by insiders.

Carvana Trading Down 9.9 %

Carvana stock opened at $223.14 on Friday. Carvana Co. has a 52 week low of $49.38 and a 52 week high of $292.84. The stock has a 50-day moving average price of $234.35 and a 200 day moving average price of $207.79. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 446.67%. Sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVNA. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Thursday, February 6th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday. Evercore ISI lifted their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $265.06.

About Carvana

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.