BI Asset Management Fondsmaeglerselskab A S Sells 6,568 Shares of Carvana Co. $CVNA

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Carvana Co. (NYSE:CVNA) by 55.9% during the 1st quarter, HoldingsChannel reports. The fund owned 5,190 shares of the company’s stock after selling 6,568 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Carvana were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Carvana by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock valued at $2,620,785,000 after acquiring an additional 1,109,476 shares in the last quarter. Durable Capital Partners LP lifted its position in Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after buying an additional 129,246 shares in the last quarter. Whale Rock Capital Management LLC lifted its position in Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after buying an additional 278,760 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company’s stock worth $207,086,000 after buying an additional 481,912 shares in the last quarter. Finally, Palestra Capital Management LLC lifted its position in Carvana by 15.5% during the 4th quarter. Palestra Capital Management LLC now owns 807,016 shares of the company’s stock worth $164,115,000 after buying an additional 108,203 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 3,056,140 shares of company stock valued at $1,063,857,548. 17.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVNA has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Wedbush raised shares of Carvana to a “hold” rating in a research report on Thursday, May 8th. Stephens boosted their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. JPMorgan Chase & Co. boosted their price target on shares of Carvana from $350.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley boosted their price target on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $383.47.

Carvana Stock Up 5.3%

Shares of CVNA stock opened at $357.1740 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The firm’s 50-day moving average is $340.09 and its 200-day moving average is $278.86. The stock has a market cap of $76.86 billion, a price-to-earnings ratio of 89.52, a PEG ratio of 1.12 and a beta of 3.57. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. Sell-side analysts predict that Carvana Co. will post 2.85 EPS for the current year.

About Carvana

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.