Nordea Investment Management AB Acquires 14,291 Shares of Carvana Co. $CVNA

Nordea Investment Management AB boosted its holdings in shares of Carvana Co. (NYSE:CVNA) by 40.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,717 shares of the company’s stock after buying an additional 14,291 shares during the period. Nordea Investment Management AB’s holdings in Carvana were worth $16,475,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in Carvana during the second quarter valued at $25,000. Brooklyn Investment Group raised its position in Carvana by 961.5% during 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 in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Carvana during the first quarter valued at about $33,000. SJS Investment Consulting Inc. raised its position in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Carvana during the second quarter valued at about $42,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 3.3%

CVNA opened at $333.28 on Monday. The company has a market cap of $71.72 billion, a P/E ratio of 83.53, a P/E/G ratio of 1.08 and a beta of 3.55. The business’s 50-day moving average price is $364.10 and its 200-day moving average price is $320.89. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, equities analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVNA shares. Needham & Company LLC raised their price target on Carvana from $340.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their price target on Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Zacks Research upgraded Carvana from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Piper Sandler lifted their price objective on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $407.44.

Insider Buying and Selling

In related news, CEO Ernest C. Garcia III sold 2,880 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $355.19, for a total value of $1,022,947.20. Following the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $124,316,500. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total value of $3,892,700.00. Following the completion of the sale, the chief operating officer directly owned 103,197 shares in the company, valued at $40,171,496.19. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,618,292 shares of company stock valued at $588,235,207 over the last ninety days. Corporate insiders own 16.36% of the company’s stock.

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.