Nordea Investment Management AB Makes New $1.74 Million Investment in Carvana Co. (NYSE:CVNA)

Nordea Investment Management AB bought a new position in Carvana Co. (NYSE:CVNA) in the fourth quarter, HoldingsChannel reports. The fund bought 8,581 shares of the company’s stock, valued at approximately $1,743,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Forum Financial Management LP lifted its position in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares in the last quarter. Empirical Asset Management LLC lifted its position in Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after buying an additional 100 shares in the last quarter. CIBC Asset Management Inc lifted its position in Carvana by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after buying an additional 115 shares in the last quarter. MML Investors Services LLC lifted its position in Carvana by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock worth $726,000 after buying an additional 122 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $190.47, for a total transaction of $19,047,000.00. Following the sale, the insider now owns 38,258,131 shares in the company, valued at approximately $7,287,026,211.57. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 951,908 shares of company stock worth $199,569,285 in the last ninety days. Insiders own 17.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CVNA shares. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Carvana in a report on Tuesday, January 7th. Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Thursday, January 2nd. Piper Sandler raised their price target on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI raised their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.94.

Carvana Stock Performance

NYSE CVNA opened at $193.40 on Friday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a market capitalization of $40.16 billion, a price-to-earnings ratio of 19,359.36 and a beta of 3.38. The company’s fifty day moving average is $234.21 and its two-hundred day moving average is $183.69. Carvana Co. has a 52-week low of $40.21 and a 52-week high of $268.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities research analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Carvana Profile

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.