Carvana Co. (NYSE:CVNA) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Carvana Co. by 3.6% after selling 1,800 shares, leaving it with a total of 48,183 shares valued at approximately $10 million.
• Insider Paul W. Breaux sold 15,000 shares of Carvana for over $5.5 million, indicating a significant decrease in his ownership, while CEO Ernest C. Garcia III also sold shares totaling about $3.5 million.
• Carvana reported a quarterly revenue of $4.84 billion, exceeding analyst expectations and showcasing a 41.9% increase compared to the previous year, along with a surprising earnings per share (EPS) of $1.28.

Forsta AP Fonden lowered its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,183 shares of the company's stock after selling 1,800 shares during the quarter. Forsta AP Fonden's holdings in Carvana were worth $10,074,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Carvana by 9.7% during the 1st 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. Durable Capital Partners LP grew its holdings in Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after buying an additional 129,246 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in Carvana by 29.8% during 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in Carvana by 89.8% during the 4th 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. Finally, Palestra Capital Management LLC lifted its stake 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 valued at $164,115,000 after purchasing an additional 108,203 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. DA Davidson raised their price objective on Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Stephens raised their price target on Carvana from $300.00 to $375.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Wedbush raised Carvana to a "hold" rating in a research note on Thursday, May 8th. Citigroup reissued an "outperform" rating on shares of Carvana in a research note on Thursday, July 31st. Finally, Bank of America raised their price target on Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $383.47.

Carvana Stock Down 2.2%

CVNA stock traded down $7.71 on Tuesday, hitting $337.55. 289,132 shares of the company's stock were exchanged, compared to its average volume of 4,187,267. Carvana Co. has a 12-month low of $124.39 and a 12-month high of $413.33. The firm has a 50 day moving average price of $337.63 and a two-hundred day moving average price of $273.00. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The stock has a market cap of $72.64 billion, a P/E ratio of 84.64, a price-to-earnings-growth ratio of 1.15 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the firm posted ($0.05) EPS. The firm's revenue was up 41.9% compared to the same quarter last year. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $367.34, for a total transaction of $5,510,100.00. Following the completion of the sale, the insider owned 113,792 shares of the company's stock, valued at approximately $41,800,353.28. The trade was a 11.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $346.61, for a total value of $3,466,100.00. Following the completion of the transaction, the chief executive officer directly owned 561,440 shares of the company's stock, valued at approximately $194,600,718.40. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,893,047 shares of company stock valued at $998,571,020. 16.36% of the stock is owned by company insiders.

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.