Swedbank AB Makes New $10.86 Million Investment in Carvana Co. (NYSE:CVNA)

Swedbank AB acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 53,413 shares of the company's stock, valued at approximately $10,862,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana in the 3rd quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in Carvana in the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Carvana in the third quarter valued at approximately $40,000. Versant Capital Management Inc acquired a new position in shares of Carvana during the 4th quarter worth approximately $42,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock valued at $44,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the business's 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 transaction, the insider now directly owns 191,225 shares of the company's stock, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,845 shares of company stock worth $33,077,056 over the last ninety days. Corporate insiders own 17.18% of the company's stock.

Carvana Trading Up 1.8 %

Shares of CVNA traded up $4.51 during trading on Tuesday, reaching $256.14. 1,518,552 shares of the company traded hands, compared to its average volume of 4,099,348. The stock has a 50-day simple moving average of $230.40 and a 200-day simple moving average of $195.56. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $41.75 and a twelve month high of $268.34. The stock has a market cap of $53.18 billion, a PE ratio of 25,639.14 and a beta of 3.37.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Evercore ISI upped 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. Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Robert W. Baird increased their target price on Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.88.

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.