Norges Bank Takes Position in Carvana Co. (NYSE:CVNA)

Norges Bank acquired a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 882,004 shares of the company's stock, valued at approximately $179,364,000. Norges Bank owned approximately 0.42% of Carvana as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock valued at $94,148,000 after buying an additional 39,089 shares during the last quarter. Plato Investment Management Ltd lifted its stake in Carvana by 135.5% during the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock valued at $1,062,000 after acquiring an additional 2,994 shares during the period. Oak Thistle LLC boosted its holdings in shares of Carvana by 115.9% during the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after acquiring an additional 1,738 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after acquiring an additional 130,942 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company's stock valued at $77,807,000 after purchasing an additional 95,497 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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Carvana Price Performance

CVNA stock traded down $44.79 during trading on Thursday, reaching $181.53. The company's stock had a trading volume of 7,897,026 shares, compared to its average volume of 4,583,516. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company's fifty day moving average is $226.26 and its 200-day moving average is $219.11. The company has a market capitalization of $38.70 billion, a P/E ratio of 115.62 and a beta of 3.56. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. On average, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stephens restated an "overweight" rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. DA Davidson lifted their price objective on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Morgan Stanley raised Carvana from an "underweight" rating to an "overweight" rating in a report on Monday. William Blair restated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Citigroup upped their price target on shares of Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $261.53.

Insider Activity

In related news, CFO Mark W. Jenkins sold 10,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares of the company's stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 280,810 shares of company stock worth $61,698,820 over the last quarter. Insiders own 17.12% of the company's stock.

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.