Handelsbanken Fonder AB Sells 1,537 Shares of Carvana Co. (NYSE:CVNA)

Handelsbanken Fonder AB lowered its position in Carvana Co. (NYSE:CVNA - Free Report) by 1.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 91,685 shares of the company's stock after selling 1,537 shares during the period. Handelsbanken Fonder AB's holdings in Carvana were worth $19,169,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC bought a new stake in Carvana during the 4th quarter valued at $28,000. Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana in the 4th quarter worth $31,000. Venturi Wealth Management LLC grew its stake in shares of Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock worth $46,000 after acquiring an additional 99 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Carvana in the 4th quarter worth $48,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Price Performance

NYSE CVNA traded down $22.24 on Friday, reaching $296.71. 6,604,157 shares of the company's stock traded hands, compared to its average volume of 3,935,991. Carvana Co. has a 12 month low of $100.05 and a 12 month 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 stock has a 50-day simple moving average of $272.91 and a 200 day simple moving average of $240.85. The stock has a market cap of $63.54 billion, a PE ratio of 188.99 and a beta of 3.65.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVNA shares. Citigroup increased their price target on shares of Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company increased their price target on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. William Blair restated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Evercore ISI reduced their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, March 11th. Finally, Wedbush upgraded shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $280.35.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 70,166 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the sale, the insider now owns 201,087 shares of the company's stock, valued at $56,591,914.41. This trade represents a 25.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the sale, the chief operating officer now directly owns 123,803 shares of the company's stock, valued at $18,681,872.70. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,336,046 shares of company stock worth $401,789,783. 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.