Avanza Fonder AB Increases Stock Holdings in Carvana Co. (NYSE:CVNA)

Avanza Fonder AB lifted its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 13.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,228 shares of the company's stock after buying 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 SEC filing.

A number of other hedge funds also recently modified their holdings of CVNA. Vanguard Group Inc. raised its stake in Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP raised its stake in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after purchasing an additional 57,215 shares in the last quarter. Durable Capital Partners LP raised its stake in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Geode Capital Management LLC increased its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after buying an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC increased its holdings in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after buying an additional 278,760 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the sale, the chief operating officer now directly owns 146,278 shares of the company's stock, valued at $30,769,577.30. This represents a 25.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the sale, the insider now directly owns 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,336,046 shares of company stock valued at $401,789,783. 17.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on CVNA shares. William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Wedbush raised shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Evercore ISI decreased their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Finally, Morgan Stanley lifted their price target on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $280.35.

Carvana Stock Down 7.0%

Shares of NYSE CVNA traded down $22.24 during trading on Friday, hitting $296.71. The stock had a trading volume of 6,604,157 shares, compared to its average volume of 3,935,991. The firm has a fifty day moving average of $272.91 and a two-hundred day moving average of $240.95. 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 company has a market capitalization of $63.54 billion, a PE ratio of 188.99 and a beta of 3.65. Carvana Co. has a 12 month low of $100.05 and a 12 month high of $351.43.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm's quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. As a group, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.