PensionDanmark Pensionsforsikringsaktieselskab Increases Stock Holdings in Carvana Co. $CVNA

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 444.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,900 shares of the company’s stock after buying an additional 49,720 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Carvana were worth $4,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Horizon Corp boosted its holdings in Carvana by 6.4% in the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after acquiring an additional 25 shares in the last quarter. Finivi Inc. increased its holdings in shares of Carvana by 4.6% during the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after acquiring an additional 31 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after acquiring an additional 31 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its position in shares of Carvana by 4.8% in the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after purchasing an additional 32 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michael E. Maroone bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of $61.80 per share, with a total value of $1,545,000.00. Following the completion of the acquisition, the director directly owned 168,573 shares in the company, valued at approximately $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the transaction, the director owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 391,372 shares of company stock worth $26,555,789. 15.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley set a $90.00 target price on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their target price on Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company set a $80.00 price target on Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Carvana in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Carvana Stock Down 0.0%

CVNA stock opened at $70.83 on Monday. The company has a market capitalization of $77.95 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 2.62 and a beta of 3.46. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The firm’s fifty day simple moving average is $66.55 and its 200-day simple moving average is $69.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm’s revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. As a group, equities research analysts forecast that Carvana Co. will post 1.65 earnings per share for the current 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.