Handelsbanken Fonder AB Sells 4,609 Shares of Carvana Co. $CVNA

Handelsbanken Fonder AB decreased its position in shares of Carvana Co. (NYSE:CVNA) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,076 shares of the company’s stock after selling 4,609 shares during the quarter. Handelsbanken Fonder AB’s holdings in Carvana were worth $29,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Los Angeles Capital Management LLC grew its position in Carvana by 1,950.7% during the second quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after acquiring an additional 105,768 shares during the last quarter. Berkshire Capital Holdings Inc. boosted its stake in shares of Carvana by 632,200.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock valued at $13,220,000 after purchasing an additional 63,220 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Carvana by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock valued at $102,632,000 after purchasing an additional 27,912 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of Carvana by 15.0% during the 1st quarter. Alberta Investment Management Corp now owns 19,900 shares of the company’s stock valued at $4,161,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the period. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other Carvana news, insider Ryan S. Keeton sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $325.03, for a total transaction of $3,250,300.00. Following the transaction, the insider owned 104,958 shares in the company, valued at approximately $34,114,498.74. This represents a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Taira sold 952 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $325.00, for a total value of $309,400.00. Following the completion of the transaction, the insider owned 116,507 shares of the company’s stock, valued at approximately $37,864,775. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 386,452 shares of company stock worth $141,017,032. Insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CVNA shares. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $500.00 target price on shares of Carvana in a report on Monday, November 17th. Evercore ISI reduced their price target on Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. Bank of America lowered their price objective on Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Carvana in a research note on Friday. They set a “buy” rating and a $395.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $413.20.

Carvana Stock Down 0.8%

Shares of NYSE CVNA opened at $310.73 on Friday. The firm has a fifty day simple moving average of $347.28 and a two-hundred day simple moving average of $339.32. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $67.60 billion, a PE ratio of 70.94, a price-to-earnings-growth ratio of 1.13 and a beta of 3.50.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current 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.