Carvana Co. $CVNA Shares Bought by Swedbank AB

Key Points

• Swedbank AB increased its stake in Carvana Co. by 21.3% in Q2, acquiring an additional 14,675 shares, bringing its total holdings to 83,688 shares worth approximately $28.2 million.
• Analysts have raised their price targets for Carvana, with JPMorgan increasing it from $415 to $425, and Needham raising theirs from $340 to $500, indicating a generally positive outlook for the stock.
• Carvana reported strong quarterly results with $1.28 earnings per share, outperforming estimates, and a revenue of $4.84 billion, reflecting a year-over-year growth of 41.9%.

Swedbank AB raised its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 21.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,688 shares of the company's stock after purchasing an additional 14,675 shares during the quarter. Swedbank AB's holdings in Carvana were worth $28,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp raised its position in 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 period. Farther Finance Advisors LLC grew its stake in shares of Carvana by 333.1% in the first 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana in the fourth quarter valued at $36,527,000. Brucke Financial Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at $415,000. Finally, Berkshire Capital Holdings Inc. grew its stake in shares of Carvana by 632,200.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company's stock valued at $13,220,000 after buying an additional 63,220 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

CVNA traded down $3.76 on Tuesday, hitting $387.09. 527,800 shares of the company traded hands, compared to its average volume of 3,926,708. The company has a 50 day moving average of $357.62 and a 200-day moving average of $297.91. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $83.30 billion, a PE ratio of 97.05, a PEG ratio of 1.28 and a beta of 3.51. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company's revenue for the quarter was up 41.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. Sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Oppenheimer raised Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price objective for the company in a research note on Friday, July 25th. JMP Securities boosted their target price on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Royal Bank Of Canada upped their price objective on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their price objective on Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $387.88.

Insider Buying and Selling at Carvana

In other Carvana news, Director Ira J. Platt sold 14,000 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the sale, the director owned 7,231 shares in the company, valued at approximately $2,741,561.34. This represents a 65.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the transaction, the insider directly owned 83,018 shares in the company, valued at approximately $31,131,750. This represents a 15.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,366,037 shares of company stock worth $840,850,804. 16.36% of the stock is owned by insiders.

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.