Forsta AP Fonden Makes New $10.17 Million Investment in Carvana Co. (NYSE:CVNA)

Forsta AP Fonden bought a new position in Carvana Co. (NYSE:CVNA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,983 shares of the company’s stock, valued at approximately $10,165,000.

Several other institutional investors also recently made changes to their positions in the stock. Eagle Asset Management Inc. acquired a new stake in shares of Carvana in the third quarter valued at about $50,531,000. Oak Thistle LLC increased its holdings in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after buying an additional 1,738 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after acquiring an additional 95,497 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Carvana during the fourth quarter valued at $609,000. Finally, Swiss National Bank raised its holdings in shares of Carvana by 6.9% during the third quarter. Swiss National Bank now owns 207,900 shares of the company’s stock worth $36,197,000 after purchasing an additional 13,400 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Down 0.6 %

Shares of CVNA stock opened at $243.99 on Friday. The stock has a 50-day simple moving average of $230.82 and a 200 day simple moving average of $193.19. The stock has a market capitalization of $50.66 billion, a P/E ratio of 24,423.42 and a beta of 3.38. Carvana Co. has a fifty-two week low of $40.21 and a fifty-two week high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the business posted $0.23 EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, sell-side analysts expect that Carvana Co. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVNA. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Wells Fargo & Company reduced their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Piper Sandler increased their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $241.94.

Insider Transactions at Carvana

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the transaction, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 347,340 shares of company stock valued at $81,044,588 over the last three months. Company insiders own 17.12% of the company’s stock.

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.