Carvana Co. $CVNA Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its stake in shares of Carvana Co. (NYSE:CVNA) by 48.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,800 shares of the company’s stock after selling 23,383 shares during the quarter. Forsta AP Fonden’s holdings in Carvana were worth $8,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hilltop National Bank purchased a new position in shares of Carvana during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group raised its position in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Carvana during the first quarter worth $33,000. SJS Investment Consulting Inc. boosted its position in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Carvana in the second quarter valued at $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVNA. Zacks Research lowered Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Morgan Stanley set a $450.00 price target on shares of Carvana in a research report on Monday, October 20th. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Citigroup cut their target price on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Barclays assumed coverage on shares of Carvana in a report on Tuesday. They set an “overweight” rating and a $390.00 target price on the stock. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $414.16.

Carvana Stock Down 2.8%

CVNA stock opened at $319.04 on Friday. The company’s 50 day moving average price is $352.99 and its 200 day moving average price is $336.44. The firm has a market capitalization of $69.40 billion, a price-to-earnings ratio of 72.84, a PEG ratio of 1.19 and a beta of 3.50. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

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

Insider Buying and Selling

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $305.00, for a total transaction of $305,000.00. Following the completion of the sale, the vice president directly owned 41,868 shares of the company’s stock, valued at $12,769,740. The trade was a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory B. Sullivan sold 2,500 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total value of $850,000.00. Following the completion of the transaction, the director owned 39,428 shares in the company, valued at approximately $13,405,520. The trade was a 5.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 426,452 shares of company stock valued at $154,720,683 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

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.