Avanza Fonder AB grew its position in shares of Carvana Co. (NYSE:CVNA – Free Report) by 13.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,228 shares of the company’s stock after acquiring an additional 1,559 shares during the quarter. Avanza Fonder AB’s holdings in Carvana were worth $2,994,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its position in shares of Carvana by 79.2% during the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 99 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $48,000. Institutional investors own 56.71% of the company’s stock.
Carvana Stock Down 0.3%
Shares of NYSE CVNA opened at $338.82 on Wednesday. Carvana Co. has a one year low of $100.05 and a one year high of $351.43. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business’s fifty day moving average price is $263.92 and its 200-day moving average price is $239.67. The stock has a market capitalization of $72.55 billion, a PE ratio of 215.81 and a beta of 3.65.
Insider Activity
In related news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $348.00, for a total value of $6,960,000.00. Following the sale, the insider now owns 148,340 shares in the company, valued at approximately $51,622,320. The trade was a 11.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,237,270 shares of company stock valued at $360,937,653 in the last 90 days. Insiders own 17.12% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Evercore ISI cut their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Citigroup lifted their target price on Carvana from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Morgan Stanley lifted their target price on Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company boosted their price objective on Carvana from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $280.35.
Get Our Latest Stock Report on CVNA
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.
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