SEB Asset Management AB Buys New Stake in Carvana Co. $CVNA

SEB Asset Management AB bought a new position in Carvana Co. (NYSE:CVNA) during the 1st quarter, Holdings Channel reports. The fund bought 26,229 shares of the company’s stock, valued at approximately $8,246,000.

Other institutional investors have also recently bought and sold shares of the company. Ascentis Independent Advisors bought a new stake in Carvana during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Carvana in the fourth quarter worth about $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana in the fourth quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new position in shares of Carvana during the 4th quarter worth about $33,000. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $85.00 target price (down from $95.00) on shares of Carvana in a report on Tuesday. UBS Group reiterated a “buy” rating and set a $104.00 price target (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Argus lowered their price objective on shares of Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Finally, Stephens raised their price objective on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.53.

Insider Activity at Carvana

In related news, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at $12,648,260.10. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the sale, the chief financial officer owned 1,029,580 shares in the company, valued at $70,361,497.20. This represents a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 396,962 shares of company stock worth $28,525,088 in the last three months. Company insiders own 15.19% of the company’s stock.

Carvana Stock Up 2.4%

NYSE CVNA opened at $65.65 on Wednesday. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The stock has a market cap of $72.01 billion, a PE ratio of 39.93, a PEG ratio of 10.45 and a beta of 3.46. The firm has a 50-day simple moving average of $67.45 and a 200 day simple moving average of $71.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.37. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, research analysts forecast that Carvana Co. will post 1.64 EPS for the current year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.