Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Carvana Co. $CVNA

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly increased its stake in Carvana Co. by 273.3%, acquiring 2,186 additional shares, bringing their total holdings to 2,986 shares valued at approximately $1 million.
• Carvana reported a net earnings of $1.28 per share for the quarter, surpassing analysts' expectations and reflecting a 41.9% year-over-year revenue increase.
• Amid changes in analyst ratings, twelve analysts have maintained a Buy rating on Carvana, reflecting confidence in the stock, while the average target price is set at $383.47.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 273.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,986 shares of the company's stock after buying an additional 2,186 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Carvana were worth $1,006,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CVNA. Brooklyn Investment Group boosted its stake in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the 1st quarter worth approximately $33,000. Geneos Wealth Management Inc. raised its holdings in Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after buying an additional 181 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Carvana during the 1st quarter valued at about $90,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Price Performance

Shares of NYSE CVNA traded up $14.72 during mid-day trading on Friday, reaching $392.88. The company had a trading volume of 5,379,671 shares, compared to its average volume of 2,262,936. 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 stock has a market cap of $84.55 billion, a PE ratio of 98.47, a P/E/G ratio of 1.28 and a beta of 3.51. The company has a 50-day moving average price of $356.76 and a two-hundred day moving average price of $295.73. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating 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 business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the business earned ($0.05) EPS. The firm's revenue was up 41.9% compared to the same quarter last year. On average, equities analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total value of $35,376,000.00. Following the completion of the sale, the insider directly owned 36,437,346 shares in the company, valued at approximately $12,890,075,520.96. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the completion of the transaction, the insider owned 6,624 shares of the company's stock, valued at $2,610,915.84. The trade was a 93.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,426,037 shares of company stock worth $860,238,704 over the last quarter. Corporate insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $415.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday. Piper Sandler boosted their target price on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their price objective on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. JMP Securities boosted their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Finally, Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Carvana currently has a consensus rating of "Moderate Buy" and a consensus price target of $384.06.

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.