Swedbank AB Has $14.43 Million Position in Carvana Co. $CVNA

Key Points

• Swedbank AB increased its holdings in Carvana Co. by 29.2% during the first quarter, bringing its total investment to approximately $14.43 million.
• Carvana reported a quarterly earnings per share (EPS) of $1.28, exceeding analysts' expectations and demonstrating a year-over-year revenue increase of 41.9%.
• Insiders sold a total of 2,416,037 shares of Carvana stock worth over $854 million in the last quarter, marking significant movements within the company’s ownership structure.

Swedbank AB grew its position in Carvana Co. (NYSE:CVNA - Free Report) by 29.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,013 shares of the company's stock after buying an additional 15,600 shares during the quarter. Swedbank AB's holdings in Carvana were worth $14,429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group raised its position in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana during the 1st quarter valued at approximately $33,000. Geneos Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 181 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Carvana during the 1st quarter valued at approximately $90,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Trading Up 2.1%

NYSE:CVNA opened at $361.66 on Monday. The firm's fifty day moving average is $354.06 and its 200-day moving average is $290.85. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a 52 week low of $140.23 and a 52 week high of $413.33. The firm has a market cap of $77.83 billion, a P/E ratio of 90.64, a P/E/G ratio of 1.19 and a beta of 3.51.

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

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total transaction of $35,376,000.00. Following the transaction, the insider owned 36,437,346 shares in the company, valued at $12,890,075,520.96. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider owned 6,624 shares in the company, valued at $2,610,915.84. The trade was a 93.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,416,037 shares of company stock worth $854,448,368 in the last quarter. 16.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Carvana from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. JMP Securities lifted their price target on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Piper Sandler lifted their price target on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their price target on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Gordon Haskett initiated coverage on shares of Carvana in a report on Monday, July 14th. They set a "hold" rating and a $329.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $383.47.

About Carvana

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.

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