Handelsbanken Fonder AB Has $4.77 Million Holdings in Carvana Co. (NYSE:CVNA)

Handelsbanken Fonder AB increased its stake in shares of Carvana Co. (NYSE:CVNA) by 16.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,400 shares of the company’s stock after acquiring an additional 3,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Carvana were worth $4,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in Carvana in the 2nd quarter valued at approximately $32,000. Summit Securities Group LLC raised its stake in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp lifted its position in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Carvana in the 2nd quarter valued at $51,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Carvana in the 1st quarter valued at $55,000. Institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Friday, October 4th. The shares were sold at an average price of $179.06, for a total value of $17,906,000.00. Following the sale, the insider now directly owns 38,858,131 shares in the company, valued at approximately $6,957,936,936.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $179.06, for a total transaction of $17,906,000.00. Following the transaction, the insider now owns 38,858,131 shares of the company’s stock, valued at $6,957,936,936.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $136.18, for a total value of $10,213,500.00. Following the completion of the sale, the insider now directly owns 2,315,814 shares of the company’s stock, valued at approximately $315,367,550.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,586,866 shares of company stock valued at $389,372,534 in the last quarter. 17.12% of the stock is currently owned by insiders.

Carvana Trading Up 6.2 %

NYSE:CVNA opened at $190.96 on Wednesday. The business’s 50-day simple moving average is $153.92 and its 200-day simple moving average is $123.62. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $191.00. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The stock has a market capitalization of $38.68 billion, a PE ratio of 83.75 and a beta of 3.44.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Sell-side analysts expect that Carvana Co. will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on CVNA shares. JPMorgan Chase & Co. upped their target price on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Evercore ISI reaffirmed an “in-line” rating and set a $178.00 price objective on shares of Carvana in a report on Thursday, September 26th. Bank of America reiterated a “buy” rating and set a $185.00 price target on shares of Carvana in a research report on Tuesday, September 17th. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. Finally, DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.72.

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.