Nykredit A S Invests $18.37 Million in Carvana Co. $CVNA

Nykredit A S purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 279,086 shares of the company’s stock, valued at approximately $18,369,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG raised its stake in Carvana by 259.4% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 136,656 shares of the company’s stock valued at $8,995,000 after acquiring an additional 98,636 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Carvana in the 2nd quarter valued at approximately $227,000. Spyglass Capital Management LLC increased its holdings in shares of Carvana by 493.0% in the second quarter. Spyglass Capital Management LLC now owns 992,632 shares of the company’s stock valued at $65,335,000 after purchasing an additional 825,241 shares during the period. CTC Alternative Strategies Ltd. acquired a new position in shares of Carvana in the second quarter valued at approximately $505,000. Finally, Senator Investment Group LP raised its stake in shares of Carvana by 516.5% during the second quarter. Senator Investment Group LP now owns 1,137,870 shares of the company’s stock worth $74,895,000 after purchasing an additional 953,296 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In related news, CFO Mark Jenkins sold 63,750 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $4,561,312.50. Following the sale, the chief financial officer directly owned 1,149,518 shares of the company’s stock, valued at approximately $82,248,012.90. This represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen Palmer sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $357,750.00. Following the transaction, the vice president owned 128,886 shares of the company’s stock, valued at $9,221,793.30. This trade represents a 3.73% decrease in their ownership of the stock. 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. Insiders sold 420,897 shares of company stock valued at $28,914,626 in the last 90 days. 15.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVNA. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 price objective on shares of Carvana in a research report on Friday, July 31st. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. BTIG Research restated a “buy” rating and issued a $87.00 price objective on shares of Carvana in a research report on Tuesday, August 18th. UBS Group reiterated a “buy” rating and set a $83.00 target price on shares of Carvana in a research report on Friday, July 31st. Finally, Barclays reduced their price target on Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Carvana Trading Up 1.7%

Shares of CVNA opened at $74.65 on Friday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. 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 capitalization of $82.15 billion, a P/E ratio of 41.29, a PEG ratio of 2.15 and a beta of 3.49. The firm’s 50-day moving average is $68.89 and its two-hundred day moving average is $68.31.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same period last year, the firm earned $1.51 EPS. On average, research analysts predict that Carvana Co. will post 1.65 earnings per share for the current fiscal 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.