Handelsbanken Fonder AB Sells 94,091 Shares of Carvana Co. (NYSE:CVNA)

Handelsbanken Fonder AB lowered its stake in shares of Carvana Co. (NYSE:CVNA – Get Rating) by 85.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,900 shares of the company’s stock after selling 94,091 shares during the period. Handelsbanken Fonder AB’s holdings in Carvana were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Carvana during the 4th quarter valued at about $75,000. Ieq Capital LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $74,000. Taylor Frigon Capital Management LLC raised its holdings in shares of Carvana by 213.7% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 183,429 shares of the company’s stock valued at $869,000 after purchasing an additional 124,955 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Carvana by 3,370.5% during the fourth quarter. SG Americas Securities LLC now owns 200,006 shares of the company’s stock valued at $948,000 after purchasing an additional 194,243 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in Carvana during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 63.62% of the company’s stock.

Carvana Stock Performance

Shares of NYSE CVNA opened at $11.30 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.05 and a debt-to-equity ratio of 17.69. Carvana Co. has a 12 month low of $3.55 and a 12 month high of $58.05. The company has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $8.42. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -0.80 and a beta of 2.83.

Carvana (NYSE:CVNA – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($1.51) EPS for the quarter, beating the consensus estimate of ($1.87) by $0.36. Carvana had a negative net margin of 11.70% and a negative return on equity of 1,271.19%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the business posted ($2.89) EPS. The business’s quarterly revenue was down 25.5% compared to the same quarter last year. As a group, analysts predict that Carvana Co. will post -6.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVNA. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Carvana in a report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Carvana from $10.00 to $11.00 in a research note on Monday. DA Davidson increased their target price on shares of Carvana from $5.00 to $7.00 in a research note on Tuesday, February 21st. Piper Sandler reduced their target price on shares of Carvana from $45.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, February 16th. Finally, Wedbush reaffirmed an “underperform” rating on shares of Carvana in a research note on Friday, February 24th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.50.

Carvana Company Profile

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Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.