Nordea Investment Management AB Purchases 14,291 Shares of Carvana Co. $CVNA

Nordea Investment Management AB raised its position in shares of Carvana Co. (NYSE:CVNA) by 40.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,717 shares of the company’s stock after acquiring an additional 14,291 shares during the quarter. Nordea Investment Management AB’s holdings in Carvana were worth $16,475,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Hilltop National Bank bought a new stake in Carvana during the 2nd quarter valued at approximately $25,000. Brooklyn Investment Group boosted its position in Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Carvana during the 1st quarter valued at approximately $33,000. SJS Investment Consulting Inc. boosted its position in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Carvana during the 2nd quarter valued at approximately $42,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVNA. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Jefferies Financial Group set a $475.00 price target on Carvana and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Needham & Company LLC boosted their price target on Carvana from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Oppenheimer raised Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target on the stock in a research report on Friday, July 25th. Finally, JMP Securities boosted their price target on Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $407.44.

Carvana Price Performance

Shares of NYSE CVNA opened at $333.28 on Monday. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33. The firm has a market cap of $71.72 billion, a P/E ratio of 83.53, a PEG ratio of 1.08 and a beta of 3.55. The company has a 50 day moving average of $364.10 and a 200 day moving average of $320.89. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 41.9% on a year-over-year basis. As a group, research analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $398.91, for a total value of $31,912,800.00. Following the completion of the transaction, the insider directly owned 197,832 shares in the company, valued at $78,917,163.12. The trade was a 28.79% decrease in their position. The sale 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 100,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $371.30, for a total transaction of $37,130,000.00. Following the sale, the insider owned 35,142,792 shares of the company’s stock, valued at approximately $13,048,518,669.60. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,618,292 shares of company stock worth $588,235,207 in the last three months. Insiders own 16.36% of the company’s stock.

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.