Forsta AP Fonden Acquires New Shares in Carvana Co. (NYSE:CVNA)

Forsta AP Fonden purchased a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 49,983 shares of the company's stock, valued at approximately $10,165,000.

A number of other large investors have also recently modified their holdings of the business. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana during the 3rd quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new stake in Carvana in the fourth quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new position in Carvana during the third quarter valued at approximately $40,000. Versant Capital Management Inc purchased a new position in shares of Carvana during the fourth quarter worth approximately $42,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of 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 in the last quarter. Institutional investors own 56.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their target price 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. Needham & Company LLC reiterated a "buy" rating and issued a $330.00 price objective on shares of Carvana in a report on Tuesday, January 7th. Evercore ISI increased their target price on Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a report on Tuesday, December 3rd. Piper Sandler lifted their price target on Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, JMP Securities reissued a "market outperform" rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $244.88.

Carvana Stock Up 1.6 %

Shares of CVNA stock traded up $3.82 during midday trading on Friday, reaching $247.76. 3,449,636 shares of the stock were exchanged, compared to its average volume of 4,313,203. The firm has a market cap of $51.44 billion, a PE ratio of 24,800.30 and a beta of 3.38. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The company's 50 day moving average is $230.58 and its two-hundred day moving average is $193.93. Carvana Co. has a 1 year low of $40.21 and a 1 year high of $268.34.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) 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 the consensus estimate of $3.47 billion. Carvana's revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 EPS. On average, equities research analysts predict that Carvana Co. will post 0.88 EPS for the current year.

Insider Transactions at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares of the company's stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 347,340 shares of company stock valued at $81,044,588 in the last three months. 17.12% of the stock is currently owned by company 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.