Handelsbanken Fonder AB Sells 1,700 Shares of Carvana Co. (NYSE:CVNA)

Handelsbanken Fonder AB lessened its position in shares of Carvana Co. (NYSE:CVNA) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,500 shares of the company’s stock after selling 1,700 shares during the period. Handelsbanken Fonder AB’s holdings in Carvana were worth $926,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CVNA. Blue Trust Inc. acquired a new stake in Carvana in the fourth quarter worth $29,000. Hanseatic Management Services Inc. acquired a new stake in Carvana in the third quarter worth $34,000. Harvest Fund Management Co. Ltd grew its holdings in Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after purchasing an additional 1,103 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Carvana by 1,370.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company’s stock worth $62,000 after purchasing an additional 1,370 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Carvana in the third quarter worth $64,000. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In related news, Director Neha Parikh acquired 1,300 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $77.00 per share, with a total value of $100,100.00. Following the completion of the transaction, the director now owns 58,495 shares in the company, valued at approximately $4,504,115. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the sale, the insider now owns 150,126 shares of the company’s stock, valued at $10,358,694. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Neha Parikh purchased 1,300 shares of the stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the transaction, the director now owns 58,495 shares of the company’s stock, valued at $4,504,115. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 187,883 shares of company stock valued at $15,505,178. Company insiders own 17.12% of the company’s stock.

Carvana Stock Performance

Carvana stock opened at $84.31 on Monday. Carvana Co. has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The stock has a market cap of $17.02 billion, a PE ratio of 156.13 and a beta of 3.32. The firm’s 50-day simple moving average is $77.47 and its 200 day simple moving average is $53.92.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted ($0.97) EPS. The business’s revenue was down 14.6% compared to the same quarter last year. As a group, analysts predict that Carvana Co. will post -3.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Morgan Stanley lifted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $80.00 price objective on shares of Carvana in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.87.

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.