Skandinaviska Enskilda Banken AB publ Acquires Shares of 31,800 Carvana Co. (NYSE:CVNA)

Skandinaviska Enskilda Banken AB publ bought a new position in Carvana Co. (NYSE:CVNA) during the 4th quarter, HoldingsChannel.com reports. The fund bought 31,800 shares of the company’s stock, valued at approximately $6,695,000.

Several other institutional investors have also made changes to their positions in the company. Sigma Planning Corp acquired a new position in Carvana in the 3rd quarter worth approximately $228,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Carvana in the third quarter worth $439,000. Ashton Thomas Private Wealth LLC grew its holdings in shares of Carvana by 999.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,330 shares of the company’s stock valued at $232,000 after buying an additional 1,209 shares in the last quarter. KBC Group NV raised its position in Carvana by 23.1% during the third quarter. KBC Group NV now owns 2,866 shares of the company’s stock valued at $499,000 after buying an additional 538 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Carvana by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after acquiring an additional 115 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA opened at $181.37 on Friday. The company has a market capitalization of $38.66 billion, a PE ratio of 115.52 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The company’s fifty day moving average price is $228.94 and its 200 day moving average price is $213.86.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,784 shares of company stock worth $18,599,844 over the last three months. 17.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Bank of America cut their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Finally, Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $262.71.

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.