BI Asset Management Fondsmaeglerselskab A S Sells 6,568 Shares of Carvana Co. $CVNA

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Carvana Co. by 55.9% in the first quarter, resulting in a position worth approximately $1.09 million.
• Institutional investors own 56.71% of Carvana's stock, with notable increases in holdings from multiple firms, including Dimensional Fund Advisors LP which raised its stake by 32.0%.
• Carvana reported a quarterly EPS of $1.28, surpassing estimates, with a revenue of $4.84 billion, marking a 41.9% year-over-year increase.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 55.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,190 shares of the company's stock after selling 6,568 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Carvana were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Durable Capital Partners LP increased its holdings in shares of 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. Whale Rock Capital Management LLC increased its holdings in shares of Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after purchasing an additional 278,760 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after purchasing an additional 481,912 shares in the last quarter. Finally, Palestra Capital Management LLC increased its holdings in shares of Carvana by 15.5% in the 4th quarter. Palestra Capital Management LLC now owns 807,016 shares of the company's stock worth $164,115,000 after purchasing an additional 108,203 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 95,087 shares of Carvana stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the sale, the insider owned 34,442,317 shares in the company, valued at $12,023,468,441.53. This trade represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $361.45, for a total transaction of $3,614,500.00. Following the sale, the chief executive officer owned 506,440 shares in the company, valued at approximately $183,052,738. The trade was a 1.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,013,640 shares of company stock worth $1,051,063,322 in the last three months. 16.36% of the stock is owned by corporate insiders.

Carvana Stock Performance

NYSE CVNA traded down $2.68 on Wednesday, hitting $369.53. 862,463 shares of the company traded hands, compared to its average volume of 4,098,742. The company has a market capitalization of $79.52 billion, a price-to-earnings ratio of 92.61, a P/E/G ratio of 1.20 and a beta of 3.57. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The business's 50 day moving average price is $343.09 and its 200-day moving average price is $280.45. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned ($0.05) earnings per share. Carvana's quarterly revenue was up 41.9% compared to the same quarter last year. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stephens lifted their price objective on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Needham & Company LLC lifted their price objective on Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective for the company in a report on Friday, July 25th. Wall Street Zen lowered Carvana from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $383.47.

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.