DnB Asset Management AS Has $319,000 Stock Holdings in Carvana Co. (NYSE:CVNA)

DnB Asset Management AS grew its holdings in Carvana Co. (NYSE:CVNAGet Rating) by 19.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,127 shares of the company’s stock after buying an additional 2,318 shares during the quarter. DnB Asset Management AS’s holdings in Carvana were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. abrdn plc increased its stake in shares of Carvana by 1.2% in the fourth quarter. abrdn plc now owns 6,497 shares of the company’s stock valued at $1,506,000 after buying an additional 76 shares in the last quarter. Eaton Vance Management boosted its holdings in Carvana by 1.7% in the fourth quarter. Eaton Vance Management now owns 4,798 shares of the company’s stock valued at $1,083,000 after acquiring an additional 80 shares during the last quarter. Claar Advisors LLC boosted its holdings in Carvana by 25.0% in the fourth quarter. Claar Advisors LLC now owns 600 shares of the company’s stock valued at $139,000 after acquiring an additional 120 shares during the last quarter. Exane Derivatives boosted its holdings in Carvana by 11.9% in the first quarter. Exane Derivatives now owns 1,168 shares of the company’s stock valued at $139,000 after acquiring an additional 124 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Carvana by 4.8% in the first quarter. Daiwa Securities Group Inc. now owns 3,964 shares of the company’s stock valued at $473,000 after acquiring an additional 180 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Needham & Company LLC decreased their price target on Carvana from $80.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. Cowen reduced their target price on Carvana from $142.00 to $95.00 in a report on Friday, August 5th. Morgan Stanley reduced their target price on Carvana from $105.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Finally, Wells Fargo & Company reduced their target price on Carvana from $65.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.25.

Carvana Trading Down 12.0 %

NYSE CVNA opened at $26.97 on Friday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -4.06 and a beta of 2.60. The stock’s 50 day moving average price is $35.23 and its two-hundred day moving average price is $54.52. The company has a debt-to-equity ratio of 7.64, a quick ratio of 1.11 and a current ratio of 2.32. Carvana Co. has a 52 week low of $19.45 and a 52 week high of $328.97.

Carvana (NYSE:CVNAGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($2.35) EPS for the quarter, missing the consensus estimate of ($1.81) by ($0.54). The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.99 billion. Carvana had a negative net margin of 4.24% and a negative return on equity of 115.22%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. As a group, analysts anticipate that Carvana Co. will post -8.29 earnings per share for the current fiscal year.

Carvana Profile

(Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

See Also

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNAGet Rating).

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.