11,758 Shares in Carvana Co. (NYSE:CVNA) Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,758 shares of the company’s stock, valued at approximately $2,391,000.

Several other large investors have also bought and sold shares of CVNA. Stifel Financial Corp boosted its position in shares of Carvana by 65.3% during the third quarter. Stifel Financial Corp now owns 5,434 shares of the company’s stock valued at $946,000 after buying an additional 2,147 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Carvana in the third quarter worth approximately $312,000. World Investment Advisors LLC bought a new stake in shares of Carvana in the third quarter worth approximately $2,009,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Carvana during the third quarter valued at approximately $241,000. Finally, Optimist Retirement Group LLC bought a new position in Carvana during the third quarter valued at approximately $289,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVNA shares. Wedbush set a $250.00 target price on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a report on Monday, March 31st. JMP Securities reduced their price target on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Citigroup cut their target price on shares of Carvana from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average target price of $253.59.

Insider Activity

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the sale, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This represents a 28.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,810 shares of company stock worth $69,243,820. 17.12% of the stock is currently owned by insiders.

Carvana Stock Performance

CVNA opened at $195.76 on Tuesday. The stock has a market capitalization of $41.73 billion, a price-to-earnings ratio of 124.69 and a beta of 3.61. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a fifty day moving average of $209.33 and a 200 day moving average of $221.92.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for 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%. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.