19,116 Shares in Carvana Co. (NYSE:CVNA) Bought by DnB Asset Management AS

DnB Asset Management AS purchased a new stake in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 19,116 shares of the company’s stock, valued at approximately $3,887,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cerity Partners LLC grew its stake in shares of Carvana by 112.8% during the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company’s stock valued at $734,000 after acquiring an additional 2,234 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Carvana in the third quarter worth approximately $244,000. Townsquare Capital LLC purchased a new stake in shares of Carvana in the third quarter worth $282,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Carvana by 13.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,140 shares of the company’s stock valued at $3,332,000 after purchasing an additional 2,243 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Carvana during the 3rd quarter valued at $1,772,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Royal Bank of Canada upped their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Price Performance

Shares of Carvana stock opened at $209.15 on Tuesday. The stock has a 50 day moving average price of $226.82 and a 200-day moving average price of $218.57. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The stock has a market cap of $44.58 billion, a price-to-earnings ratio of 133.21 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

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

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,377 shares of company stock worth $44,251,096. Insiders own 17.12% 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.