Xact Kapitalforvaltning AB Takes $877,000 Position in Carvana Co (NYSE:CVNA)

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Xact Kapitalforvaltning AB purchased a new stake in shares of Carvana Co (NYSE:CVNA) in the 1st quarter, HoldingsChannel reports. The firm purchased 15,100 shares of the company’s stock, valued at approximately $877,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Carvana by 1,547.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 16,479 shares of the company’s stock worth $957,000 after purchasing an additional 15,479 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Carvana by 9.0% in the first quarter. Dimensional Fund Advisors LP now owns 64,663 shares of the company’s stock worth $3,755,000 after purchasing an additional 5,364 shares during the last quarter. Advisor Group Inc. boosted its holdings in Carvana by 993.4% in the first quarter. Advisor Group Inc. now owns 17,342 shares of the company’s stock worth $1,006,000 after purchasing an additional 15,756 shares during the last quarter. First Trust Advisors LP boosted its holdings in Carvana by 1.4% in the first quarter. First Trust Advisors LP now owns 201,433 shares of the company’s stock worth $11,695,000 after purchasing an additional 2,815 shares during the last quarter. Finally, Rational Advisors LLC purchased a new stake in Carvana in the first quarter worth approximately $2,206,000. Institutional investors and hedge funds own 37.08% of the company’s stock.

Shares of CVNA stock traded down $0.16 on Wednesday, hitting $61.12. 29,665 shares of the stock traded hands, compared to its average volume of 1,784,607. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of -35.30 and a beta of 2.68. Carvana Co has a 52 week low of $28.44 and a 52 week high of $76.85. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.39 and a quick ratio of 0.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.03). The firm had revenue of $755.23 million for the quarter, compared to the consensus estimate of $696.61 million. Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%. Equities research analysts expect that Carvana Co will post -1.82 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Carvana from $65.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Wells Fargo & Co increased their price target on shares of Carvana from $57.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Citigroup increased their price target on shares of Carvana from $80.00 to $90.00 and gave the stock a “positive” rating in a research report on Thursday, May 9th. B. Riley reiterated a “buy” rating and issued a $91.00 price target (up from $72.00) on shares of Carvana in a research report on Monday, April 29th. Finally, Wedbush increased their price target on shares of Carvana from $52.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Carvana has a consensus rating of “Hold” and an average target price of $67.42.

In other Carvana news, insider Paul W. Breaux sold 12,500 shares of Carvana stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $59.05, for a total value of $738,125.00. Following the sale, the insider now directly owns 10,628 shares in the company, valued at approximately $627,583.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 253,808 shares of Carvana stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $56.03, for a total transaction of $14,220,862.24. Following the completion of the sale, the insider now owns 52,937,458 shares in the company, valued at $2,966,085,771.74. The disclosure for this sale can be found here. Insiders have sold a total of 3,390,709 shares of company stock worth $210,956,281 over the last 90 days. Insiders own 13.02% of the company’s stock.

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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 proprietary 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.

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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:CVNA).

Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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