Nykredit A S Invests $15.89 Million in Carvana Co. $CVNA

Key Points

• Nykredit A/S acquired 241,416 Carvana shares worth approximately $15.89 million in the second quarter. Institutional investors and hedge funds collectively own 56.71% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 16 Buy, and seven Hold ratings; the consensus rating is Moderate Buy with an $84.14 price target.
• Carvana exceeded quarterly expectations, reporting $0.42 in EPS and $7.38 billion in revenue, up 52.4% year over year. However, insiders sold 402,564 shares worth $27.69 million over the past 90 days.

Nykredit A S acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 241,416 shares of the company's stock, valued at approximately $15,890,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sands Capital Management LLC increased its position in shares of Carvana by 44.4% during the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company's stock worth $1,030,798,000 after purchasing an additional 751,019 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Carvana in the 1st quarter valued at approximately $29,866,000. Gavilan Investment Partners LLC boosted its holdings in shares of Carvana by 24.6% in the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company's stock valued at $36,294,000 after buying an additional 17,000 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Carvana by 239.6% in the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company's stock valued at $93,748,000 after buying an additional 156,430 shares in the last quarter. Finally, Saudi Central Bank grew its stake in shares of Carvana by 806.1% in the second quarter. Saudi Central Bank now owns 45,043 shares of the company's stock valued at $2,965,000 after buying an additional 40,072 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVNA shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $80.00 target price on shares of Carvana in a report on Friday, July 31st. Weiss Ratings raised shares of Carvana from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. BTIG Research restated a "buy" rating and set a $87.00 price objective on shares of Carvana in a research note on Tuesday, August 18th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the company an "outperform" rating in a report on Thursday, July 30th. Finally, Hovde Group raised their target price on shares of Carvana from $39.50 to $48.00 and gave the company a "market perform" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Carvana has an average rating of "Moderate Buy" and a consensus price target of $84.14.

Carvana Stock Down 1.1%

CVNA opened at $65.13 on Friday. The stock's fifty day simple moving average is $69.37 and its 200 day simple moving average is $68.43. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The stock has a market cap of $71.67 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 1.88 and a beta of 3.49. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to analysts' expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company's revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 earnings per share. As a group, research analysts expect that Carvana Co. will post 1.68 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, VP Stephen Palmer sold 5,000 shares of Carvana stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $357,750.00. Following the completion of the sale, the vice president owned 128,886 shares of the company's stock, valued at approximately $9,221,793.30. The trade was a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Jenkins sold 63,750 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $4,561,312.50. Following the completion of the transaction, the chief financial officer owned 1,149,518 shares in the company, valued at approximately $82,248,012.90. This trade represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 402,564 shares of company stock worth $27,689,555 in the last ninety days. Insiders own 15.19% of the company's stock.

Carvana Profile

Carvana Co NYSE: CVNA is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.

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