Carvana Co. $CVNA Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Carvana Co. (NYSE:CVNA) by 48.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,800 shares of the company’s stock after selling 23,383 shares during the period. Forsta AP Fonden’s holdings in Carvana were worth $8,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVNA. KBC Group NV lifted its position in shares of Carvana by 1,988.7% during the 2nd quarter. KBC Group NV now owns 323,662 shares of the company’s stock valued at $109,061,000 after buying an additional 308,166 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Carvana by 9.7% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 54,832 shares of the company’s stock worth $18,476,000 after acquiring an additional 4,846 shares during the period. National Pension Service lifted its holdings in Carvana by 0.9% during the second quarter. National Pension Service now owns 188,668 shares of the company’s stock valued at $63,574,000 after purchasing an additional 1,707 shares in the last quarter. Advyzon Investment Management LLC purchased a new position in Carvana during the second quarter valued at $301,000. Finally, Cvfg LLC acquired a new stake in shares of Carvana in the second quarter valued at about $257,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Price Performance

CVNA stock opened at $319.04 on Friday. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $413.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The firm has a market capitalization of $69.40 billion, a PE ratio of 72.84, a price-to-earnings-growth ratio of 1.19 and a beta of 3.50. The business has a 50 day simple moving average of $352.99 and a 200-day simple moving average of $336.44.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period last year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 54.5% on a year-over-year basis. Equities research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVNA has been the subject of several research analyst reports. Morgan Stanley set a $450.00 price target on shares of Carvana in a research report on Monday, October 20th. Stephens reiterated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. Piper Sandler raised their target price on Carvana from $340.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Bank of America lowered their price target on Carvana from $405.00 to $385.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Carvana in a research note on Tuesday. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.16.

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the completion of the sale, the insider owned 83,018 shares in the company, valued at $31,131,750. This trade represents a 15.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the sale, the chief financial officer directly owned 208,581 shares in the company, valued at approximately $76,011,088.02. The trade was a 5.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 426,452 shares of company stock valued at $154,720,683 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

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.