Fjarde AP Fonden Fourth Swedish National Pension Fund Has $4.81 Million Stock Holdings in Carvana Co. $CVNA

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Carvana Co. by 6.1%, now holding 23,000 shares valued at approximately $4.81 million.
• Several institutional investors have recently increased their stakes in Carvana, with 56.71% of the stock now held by these investors.
• Equity analysts have boosted their price targets for Carvana, with target prices ranging from $275.00 to $460.00 and an average price target of $383.47.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,000 shares of the company's stock after selling 1,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Carvana were worth $4,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CVNA. Vanguard Group Inc. grew its holdings in shares of Carvana by 9.7% during the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares in the last quarter. Castle Hook Partners LP purchased a new position in shares of Carvana during the fourth quarter valued at $116,020,000. BNP Paribas Financial Markets grew its holdings in shares of Carvana by 89.8% during the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after buying an additional 481,912 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Carvana by 29.8% during the fourth 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 in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Carvana during the fourth quarter valued at $51,091,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the transaction, the insider owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 3,036,140 shares of company stock worth $1,056,693,071. 16.36% of the stock is currently owned by insiders.

Carvana Stock Down 3.2%

Shares of CVNA traded down $11.1280 during trading hours on Wednesday, hitting $333.1120. 3,074,767 shares of the company were exchanged, compared to its average volume of 4,147,542. The company has a market cap of $71.69 billion, a PE ratio of 83.48, a PEG ratio of 1.19 and a beta of 3.57. The firm's 50 day moving average is $338.49 and its 200-day moving average is $277.14. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stephens boosted their target price on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. JMP Securities boosted their target price on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Piper Sandler boosted their target price on Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. DA Davidson boosted their target price on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Bank of America boosted their target price on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

Carvana Company 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.