Nykredit A S Makes New Investment in Carvana Co. $CVNA

Nykredit A S acquired a new stake in Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 279,086 shares of the company’s stock, valued at approximately $18,369,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Farmers & Merchants Investments Inc. acquired a new stake in Carvana in the fourth quarter valued at approximately $29,000. Motiv8 Investments LLC acquired a new position in Carvana during the 4th quarter worth approximately $33,000. Ascentis Independent Advisors purchased a new stake in shares of Carvana in the 1st quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Carvana in the 2nd quarter valued at $38,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In other Carvana news, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the transaction, the director owned 186,470 shares of the company’s stock, valued at $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $357,750.00. Following the completion of the sale, the vice president owned 128,886 shares of the company’s stock, valued at approximately $9,221,793.30. This represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 420,897 shares of company stock worth $28,914,626. Insiders own 15.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of analyst reports. BNP Paribas Exane lowered their target price on shares of Carvana from $86.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Weiss Ratings upgraded Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Wells Fargo & Company set a $80.00 price target on Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Evercore set a $75.00 price objective on Carvana in a research report on Thursday, July 30th. Finally, Robert W. Baird set a $72.00 price objective on Carvana in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Carvana Price Performance

Shares of CVNA opened at $74.65 on Friday. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The stock has a market cap of $82.15 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The firm has a fifty day moving average price of $68.89 and a 200 day moving average price of $68.31.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Carvana’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Carvana Co. will post 1.65 EPS for the current year.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.