PensionDanmark Pensionsforsikringsaktieselskab Raises Stake in Carvana Co. $CVNA

Key Points

• PensionDanmark increased its Carvana stake by 444.7% in the second quarter, purchasing 49,720 additional shares and bringing its holdings to 60,900 shares valued at approximately $4.0 million. Institutional investors own 56.71% of the company.
• Carvana exceeded quarterly expectations, reporting earnings of $0.42 per share versus the $0.39 consensus and revenue of $7.38 billion, up 52.4% year over year. Analysts expect full-year earnings of $1.65 per share.
• Carvana insiders sold shares during the quarter, including 15,000 shares sold by Director Ira J. Platt and 50,000 shares sold by COO Benjamin E. Huston. Despite the selling, analysts maintain a consensus “Moderate Buy” rating with an average price target of $84.14.

PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 444.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,900 shares of the company's stock after purchasing an additional 49,720 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Carvana were worth $4,008,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. First Horizon Corp boosted its position in Carvana by 6.4% in the 4th quarter. First Horizon Corp now owns 418 shares of the company's stock valued at $176,000 after buying an additional 25 shares during the period. Finivi Inc. grew its stake in Carvana by 4.6% in the 4th quarter. Finivi Inc. now owns 698 shares of the company's stock worth $295,000 after acquiring an additional 31 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company's stock worth $1,346,000 after acquiring an additional 31 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company's stock worth $622,000 after acquiring an additional 31 shares during the period. Finally, Insigneo Advisory Services LLC raised its stake in shares of Carvana by 4.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company's stock valued at $294,000 after acquiring an additional 32 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Down 0.0%

CVNA opened at $70.83 on Monday. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The firm has a market cap of $77.95 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 2.62 and a beta of 3.46. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock has a fifty day moving average price of $66.55 and a 200-day moving average price of $69.82.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the company earned $1.51 earnings per share. The firm's revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Carvana Co. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, Director Ira J. Platt sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares in the company, valued at $12,648,260.10. The trade was a 7.45% decrease in their position. The transaction 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 stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the sale, the chief operating officer directly owned 535,709 shares of the company's stock, valued at $34,553,230.50. The trade was a 8.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 391,372 shares of company stock valued at $26,555,789. 15.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVNA. Stephens boosted their price target on Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on Carvana from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. DA Davidson set a $67.00 target price on Carvana in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 target price on Carvana in a research report on Thursday, July 30th. Finally, Bank of America upped their target price on Carvana from $72.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.14.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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