Carvana Co. $CVNA Stake Increased by KBC Group NV

KBC Group NV increased its position in Carvana Co. (NYSE:CVNA) by 1,988.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 323,662 shares of the company’s stock after purchasing an additional 308,166 shares during the period. KBC Group NV owned 0.15% of Carvana worth $109,061,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Carvana by 30.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 45,995 shares of the company’s stock valued at $9,617,000 after acquiring an additional 10,753 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Carvana in the first quarter worth $359,000. Arizona State Retirement System increased its stake in Carvana by 1.1% during the first quarter. Arizona State Retirement System now owns 33,446 shares of the company’s stock valued at $6,993,000 after purchasing an additional 360 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of Carvana during the first quarter worth $303,000. Finally, Florida Financial Advisors LLC acquired a new position in shares of Carvana in the 1st quarter valued at about $304,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE CVNA opened at $326.72 on Wednesday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The company’s 50 day simple moving average is $354.72 and its 200 day simple moving average is $336.62. The firm has a market capitalization of $71.07 billion, a PE ratio of 74.59, a P/E/G ratio of 1.17 and a beta of 3.50.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter last year, the firm posted $0.64 earnings per share. Carvana’s revenue was up 54.5% compared to the same quarter last year. As a group, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $364.42, for a total transaction of $4,646,355.00. Following the sale, the chief financial officer owned 208,581 shares in the company, valued at approximately $76,011,088.02. The trade was a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the sale, the insider directly owned 83,018 shares of the company’s stock, valued at $31,131,750. This represents a 15.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 423,000 shares of company stock worth $153,774,383 over the last three months. Company insiders own 16.36% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of several research reports. Citigroup dropped their price objective on shares of Carvana from $490.00 to $445.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Barclays started coverage on Carvana in a research report on Tuesday. They set an “overweight” rating and a $390.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $460.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Wells Fargo & Company increased their target price on Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Stephens reissued an “overweight” rating and set a $440.00 price target on shares of Carvana in a report on Tuesday, September 23rd. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average target price of $414.16.

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 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.