DnB Asset Management AS Invests $3.89 Million in Carvana Co. (NYSE:CVNA)

DnB Asset Management AS 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 19,116 shares of the company’s stock, valued at approximately $3,887,000.

A number of other hedge funds also recently bought and sold shares of CVNA. Quent Capital LLC bought a new stake in shares of Carvana in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC boosted its holdings in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Carvana in the fourth quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in Carvana during the 4th quarter valued at $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,377 shares of company stock valued at $44,251,096 over the last three months. Insiders own 17.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada upped their target price on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. Finally, Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $261.53.

Carvana Stock Performance

Shares of CVNA opened at $209.15 on Tuesday. The company has a market cap of $44.58 billion, a price-to-earnings ratio of 133.21 and a beta of 3.56. The business’s fifty day simple moving average is $226.82 and its two-hundred day simple moving average is $218.57. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

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

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.