E. Ohman J or Asset Management AB Buys 16,800 Shares of Carvana Co. $CVNA

E. Ohman J or Asset Management AB grew its stake in shares of Carvana Co. (NYSE:CVNA) by 400.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,000 shares of the company’s stock after buying an additional 16,800 shares during the period. E. Ohman J or Asset Management AB’s holdings in Carvana were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares during the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 24.7% during the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after acquiring an additional 3,328,115 shares during the last quarter. State Street Corp boosted its stake in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after acquiring an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew its holdings in Carvana by 42.9% during the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Carvana by 55.4% during the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Price Performance

Shares of NYSE CVNA opened at $71.91 on Wednesday. The firm has a market cap of $79.13 billion, a PE ratio of 39.77, a PEG ratio of 2.74 and a beta of 3.46. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The company has a fifty day moving average price of $66.73 and a 200 day moving average price of $69.60.

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

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total transaction of $3,427,500.00. Following the completion of the transaction, the chief operating officer directly owned 458,755 shares in the company, valued at approximately $31,447,655.25. This trade represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the transaction, the director owned 214,960 shares of the company’s stock, valued at approximately $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 391,372 shares of company stock valued at $26,555,789 over the last ninety days. Company insiders own 15.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CVNA. DA Davidson set a $67.00 target price on shares of Carvana in a research note on Thursday, July 30th. Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Hovde Group boosted their price target on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. BTIG Research lowered their price objective on shares of Carvana from $97.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Evercore set a $75.00 price objective on shares of Carvana in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Carvana Company 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.