Nordea Investment Management AB Boosts Position in Carvana Co. $CVNA

Nordea Investment Management AB raised its position in Carvana Co. (NYSE:CVNA) by 173.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,115 shares of the company’s stock after acquiring an additional 86,398 shares during the quarter. Nordea Investment Management AB owned approximately 0.06% of Carvana worth $51,861,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Hilltop National Bank bought a new position in shares of Carvana in the 2nd quarter worth approximately $25,000. ORG Partners LLC increased its holdings in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Carvana in the third quarter worth approximately $38,000. SJS Investment Consulting Inc. boosted its stake in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Carvana during the 2nd quarter valued at $38,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In other Carvana news, insider Thomas Taira sold 30,952 shares of Carvana stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $435.96, for a total value of $13,493,833.92. Following the sale, the insider owned 69,880 shares of the company’s stock, valued at $30,464,884.80. The trade was a 30.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ryan S. Keeton sold 32,370 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $301.68, for a total value of $9,765,381.60. Following the sale, the insider directly owned 115,456 shares in the company, valued at $34,830,766.08. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 467,626 shares of company stock valued at $192,090,109. 17.12% of the stock is owned by corporate insiders.

Carvana Trading Down 2.0%

Shares of CVNA opened at $459.26 on Thursday. The firm has a market cap of $99.91 billion, a P/E ratio of 104.85, a price-to-earnings-growth ratio of 1.13 and a beta of 3.54. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana Co. has a 1 year low of $148.25 and a 1 year high of $485.33. The company has a 50 day simple moving average of $400.36 and a two-hundred day simple moving average of $370.62.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.Carvana’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Jefferies Financial Group lifted their target price on Carvana from $475.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Evercore ISI lifted their price objective on Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Carvana in a research note on Tuesday. Morgan Stanley restated an “overweight” rating on shares of Carvana in a research note on Thursday, January 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $450.00 price target on shares of Carvana in a research report on Friday, December 19th. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $458.18.

Carvana 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.