Avanza Fonder AB Purchases 1,559 Shares of Carvana Co. (NYSE:CVNA)

Avanza Fonder AB grew its position in shares of Carvana Co. (NYSE:CVNAFree 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.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

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

(Free Report)

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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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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