KLP Kapitalforvaltning AS Makes New $7.73 Million Investment in Carvana Co. (NYSE:CVNA)

KLP Kapitalforvaltning AS bought a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,000 shares of the company's stock, valued at approximately $7,728,000.

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

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Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVNA shares. Citigroup boosted their target price on Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, February 21st. William Blair restated an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Morgan Stanley upgraded shares of Carvana from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $260.00 to $280.00 in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Stephens restated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $261.53.

Carvana Stock Performance

Shares of CVNA traded up $0.45 during trading hours on Friday, hitting $204.40. The company had a trading volume of 2,713,100 shares, compared to its average volume of 3,915,977. The business has a fifty day moving average of $227.25 and a 200-day moving average of $216.89. 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 firm has a market cap of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84.

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

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,377 shares of company stock worth $44,251,096. Company insiders own 17.12% of the company's stock.

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.