882,004 Shares in Carvana Co. (NYSE:CVNA) Acquired by Norges Bank

Norges Bank acquired a new position in shares of Carvana Co. (NYSE:CVNA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 882,004 shares of the company’s stock, valued at approximately $179,364,000. Norges Bank owned about 0.42% of Carvana as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC boosted its position in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after purchasing an additional 74 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Carvana by 109.9% during the 4th 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 last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

NYSE CVNA opened at $204.40 on Monday. 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 Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The firm has a market capitalization of $43.57 billion, a P/E ratio of 130.19 and a beta of 3.56. The business’s 50-day simple moving average is $227.25 and its 200-day simple moving average is $218.09.

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

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,377 shares of company stock worth $44,251,096. Corporate insiders own 17.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CVNA shares. Citigroup boosted their price target on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Finally, Bank of America decreased their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $261.53.

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.