19,116 Shares in Carvana Co. (NYSE:CVNA) Acquired by DnB Asset Management AS

DnB Asset Management AS acquired a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,116 shares of the company's stock, valued at approximately $3,887,000.

A number of other hedge funds have also modified their holdings of the company. Quent Capital LLC bought a new stake in Carvana during the 4th quarter worth about $28,000. Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $31,000. ORG Wealth Partners LLC bought a new stake in Carvana during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana during the fourth quarter valued at approximately $42,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company's stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now owns 179,673 shares of the company's stock, valued at $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,810 shares of company stock worth $61,698,820. Corporate insiders own 17.12% of the company's stock.

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Carvana Stock Performance

CVNA stock traded down $44.22 during trading hours on Thursday, hitting $182.10. 10,744,148 shares of the stock were exchanged, compared to its average volume of 3,952,879. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a market capitalization of $38.82 billion, a P/E ratio of 115.99 and a beta of 3.56. The company has a 50-day simple moving average of $226.26 and a two-hundred day simple moving average of $219.11.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a report on Monday. Evercore ISI cut their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Citigroup lifted their price objective 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. Finally, Robert W. Baird upped their target price on shares of Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $261.53.

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.