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

Nordea Investment Management AB purchased a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 8,581 shares of the company's stock, valued at approximately $1,743,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sugarloaf Wealth Management LLC bought a new stake in Carvana in the 3rd quarter valued at about $32,000. Capital Performance Advisors LLP bought a new stake in Carvana in the 3rd quarter valued at about $40,000. Versant Capital Management Inc bought a new stake in Carvana in the 4th quarter valued at about $42,000. First Horizon Advisors Inc. lifted its position in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock valued at $44,000 after purchasing an additional 196 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana in the 2nd quarter valued at about $51,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Evercore ISI boosted their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research report on Tuesday, December 3rd. Bank of America boosted their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Citigroup upgraded shares of Carvana from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $195.00 to $277.00 in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $241.94.

Carvana Stock Down 1.8 %

CVNA stock traded down $3.60 during trading hours on Friday, hitting $193.40. The company's stock had a trading volume of 3,183,614 shares, compared to its average volume of 7,882,578. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a market capitalization of $40.16 billion, a PE ratio of 19,359.36 and a beta of 3.38. Carvana Co. has a 12 month low of $40.21 and a 12 month high of $268.34. The stock has a 50 day moving average price of $234.21 and a two-hundred day moving average price of $184.09.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Carvana's quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities research analysts expect that Carvana Co. will post 0.76 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $190.47, for a total value of $19,047,000.00. Following the sale, the insider now owns 38,258,131 shares of the company's stock, valued at $7,287,026,211.57. The trade was a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel J. Gill sold 44,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 951,908 shares of company stock worth $199,569,285 in the last ninety days. 17.12% of the stock is currently owned by insiders.

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.