Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,500 Shares of Carvana Co. (NYSE:CVNA)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Carvana Co. (NYSE:CVNA) by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,000 shares of the company’s stock after selling 1,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Carvana were worth $4,809,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Vanguard Group Inc. boosted its holdings in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after buying an additional 1,109,476 shares in the last quarter. Castle Hook Partners LP bought a new position in shares of Carvana in the 4th quarter worth $116,020,000. BNP Paribas Financial Markets lifted its holdings in shares of Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after purchasing an additional 481,912 shares in the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after purchasing an additional 278,760 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Carvana in the 4th quarter worth $51,091,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVNA. DA Davidson increased their target price on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Piper Sandler increased their target price on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Evercore ISI increased their target price on Carvana from $365.00 to $370.00 and gave the stock an “in-line” rating in a report on Tuesday. Needham & Company LLC increased their target price on Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Wedbush upgraded Carvana to a “hold” rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $383.47.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 95,087 shares of Carvana stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the sale, the insider directly owned 34,442,317 shares in the company, valued at $12,023,468,441.53. The trade was a 0.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $348.47, for a total value of $3,484,700.00. Following the sale, the chief executive officer owned 546,440 shares in the company, valued at $190,417,946.80. The trade was a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,036,140 shares of company stock worth $1,056,235,871 over the last quarter. Company insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of NYSE:CVNA opened at $350.00 on Friday. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. The stock’s fifty day simple moving average is $337.99 and its two-hundred day simple moving average is $275.46. Carvana Co. has a 1-year low of $124.39 and a 1-year high of $413.33. The stock has a market cap of $75.32 billion, a PE ratio of 87.72, a price-to-earnings-growth ratio of 1.13 and a beta of 3.57.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The business’s revenue was up 41.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. As a group, analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.