Swiss National Bank Buys 13,400 Shares of Carvana Co. (NYSE:CVNA)

Swiss National Bank raised its stake in Carvana Co. (NYSE:CVNA) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 207,900 shares of the company’s stock after purchasing an additional 13,400 shares during the quarter. Swiss National Bank owned 0.10% of Carvana worth $36,197,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana during the third quarter worth about $32,000. Capital Performance Advisors LLP bought a new stake in shares of Carvana in the 3rd quarter worth approximately $40,000. Ridgewood Investments LLC purchased a new position in shares of Carvana during the second quarter valued at approximately $32,000. Summit Securities Group LLC raised its holdings in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake 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 acquiring an additional 275 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of several research reports. BTIG Research lifted their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler lifted their price target on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price target on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, JMP Securities raised their price objective on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $217.71.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $155.94, for a total transaction of $15,594,000.00. Following the transaction, the insider now directly owns 90,814 shares in the company, valued at approximately $14,161,535.16. The trade was a 52.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the sale, the insider now owns 40,583,131 shares of the company’s stock, valued at approximately $5,508,348,370.63. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,427,249 shares of company stock valued at $437,470,322. Insiders own 17.18% of the company’s stock.

Carvana Stock Performance

Shares of CVNA stock opened at $244.38 on Thursday. The firm has a market capitalization of $50.74 billion, a PE ratio of 24,462.46 and a beta of 3.37. The company has a 50 day moving average price of $199.47 and a 200-day moving average price of $152.61. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $259.39. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company earned $0.23 earnings per share. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. As a group, equities research analysts expect that Carvana Co. will post 0.62 earnings per share for the current year.

Carvana Company 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.