KLP Kapitalforvaltning AS Acquires New Position in Carvana Co. (NYSE:CVNA)

KLP Kapitalforvaltning AS bought a new position in shares of Carvana Co. (NYSE:CVNA) during the fourth quarter, HoldingsChannel reports. The firm bought 38,000 shares of the company’s stock, valued at approximately $7,728,000.

A number of other large investors also recently bought and sold shares of CVNA. Quent Capital LLC bought a new position in Carvana during the fourth quarter worth $28,000. Global Retirement Partners LLC raised its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in shares of Carvana in the 4th quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana in the 4th quarter valued at about $34,000. Finally, Versant Capital Management Inc bought a new stake in shares of Carvana during the 4th quarter valued at about $42,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on CVNA shares. Needham & Company LLC restated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. DA Davidson boosted their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada increased their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and an average target price of $262.71.

Carvana Stock Performance

CVNA opened at $213.61 on Tuesday. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a market capitalization of $45.53 billion, a price-to-earnings ratio of 136.06 and a beta of 3.56. The business has a 50 day moving average price of $227.95 and a two-hundred day moving average price of $215.96. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana Company 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.