Norges Bank Invests $179.36 Million in Carvana Co. (NYSE:CVNA)

Norges Bank purchased a new stake in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 882,004 shares of the company’s stock, valued at approximately $179,364,000.

Other large investors have also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC acquired a new stake in shares of Carvana during the third quarter worth $162,953,000. Vanguard Group Inc. raised its stake in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after acquiring an additional 503,824 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Carvana in the fourth quarter valued at approximately $60,866,000. Finally, Holocene Advisors LP grew its holdings in shares of Carvana by 108.2% during the third quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock valued at $96,476,000 after purchasing an additional 287,983 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,377 shares of company stock worth $44,251,096. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVNA shares. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada upped their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. 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, DA Davidson upped their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Trading Up 0.2 %

Shares of Carvana stock opened at $204.40 on Monday. The business has a fifty day simple moving average of $227.25 and a 200-day simple moving average of $218.09. Carvana Co. has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The firm has a market cap of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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 company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.