Handelsbanken Fonder AB Raises Stock Holdings in Carvana Co. $CVNA

Handelsbanken Fonder AB boosted its position in shares of Carvana Co. (NYSE:CVNA) by 277.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 345,837 shares of the company’s stock after acquiring an additional 254,114 shares during the quarter. Handelsbanken Fonder AB’s holdings in Carvana were worth $22,763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its position in Carvana by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after buying an additional 3,328,115 shares during the last quarter. State Street Corp boosted its position in Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its holdings in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after buying an additional 1,382,852 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CVNA. Citizens Jmp reduced their price target on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. DA Davidson set a $67.00 price objective on shares of Carvana in a research note on Thursday, July 30th. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Barclays reduced their target price on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Insider Activity

In related news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction 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 owned 535,709 shares in the company, valued at approximately $34,553,230.50. This trade represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $61.80 per share, for a total transaction of $1,545,000.00. Following the transaction, the director owned 168,573 shares of the company’s stock, valued at $10,417,811.40. This trade represents a 17.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 391,372 shares of company stock valued at $26,555,789 in the last three months. Corporate insiders own 15.19% of the company’s stock.

Carvana Trading Up 0.4%

Shares of NYSE:CVNA opened at $72.30 on Thursday. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38. The company has a market capitalization of $79.56 billion, a PE ratio of 39.99, a PEG ratio of 2.66 and a beta of 3.46. The business has a 50 day moving average of $66.90 and a two-hundred day moving average of $69.47. 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) last issued 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 business had revenue of $7.38 billion for 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 business’s revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. As a group, analysts forecast that Carvana Co. will post 1.65 EPS for the current year.

Carvana Company Profile

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.