Carvana Co. (NYSE:CVNA) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Carvana Co. by 9.4% during the first quarter, now owning 34,800 shares valued at approximately $7.28 million.
• Carvana reported a strong quarterly earnings performance with an EPS of $1.51, surpassing estimates and showing a year-over-year revenue increase of 38.3%.
• Insider transactions included a significant sale by major shareholder Ernest C. Garcia II, who sold 100,000 shares for about $34.7 million, reducing his ownership share.

Skandinaviska Enskilda Banken AB publ increased its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,800 shares of the company's stock after purchasing an additional 3,000 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Carvana were worth $7,276,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. J.Safra Asset Management Corp increased its holdings in shares of Carvana by 140.8% in the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after purchasing an additional 1,982 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Carvana during the 4th quarter worth about $51,091,000. Farther Finance Advisors LLC raised its holdings in Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after buying an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Carvana in the fourth quarter valued at approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in shares of Carvana during the fourth quarter worth about $415,000. Institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

NYSE CVNA traded up $61.15 during trading hours on Thursday, hitting $394.74. 7,217,825 shares of the company's stock traded hands, compared to its average volume of 4,241,890. Carvana Co. has a 52 week low of $118.50 and a 52 week high of $413.34. The firm has a market capitalization of $84.53 billion, a P/E ratio of 138.50, a P/E/G ratio of 1.27 and a beta of 3.59. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The business's fifty day moving average price is $330.55 and its two-hundred day moving average price is $264.88.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted ($0.05) EPS. Carvana's revenue for the quarter was up 41.9% compared to the same quarter last year. Equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on CVNA shares. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective on the stock in a report on Friday, July 25th. Royal Bank Of Canada raised their price objective on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. JMP Securities lifted their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $425.00 target price (up from $390.00) on shares of Carvana in a report on Thursday. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $337.37.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the completion of the transaction, the insider directly 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 legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 70,166 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider directly owned 201,087 shares in the company, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,273,765 shares of company stock valued at $756,222,904. 17.12% of the stock is currently owned by corporate 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.