Carvana Co. $CVNA Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in shares of Carvana Co. (NYSE:CVNA) by 80.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,679 shares of the company’s stock after selling 164,035 shares during the period. KBC Group NV’s holdings in Carvana were worth $12,160,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CVNA. Royal Bank of Canada lifted its stake in Carvana by 40.8% in the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after purchasing an additional 181 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Carvana by 28.8% in the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after purchasing an additional 1,226 shares during the last quarter. AXA S.A. increased its holdings in shares of Carvana by 340.7% in the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock valued at $1,433,000 after purchasing an additional 3,288 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Carvana by 9.1% during the second quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after buying an additional 825 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Transactions at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.53, for a total transaction of $342,650.00. Following the completion of the sale, the vice president directly owned 144,934 shares in the company, valued at $9,932,327.02. This trade represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the sale, the chief financial officer owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. This represents a 5.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 396,962 shares of company stock worth $28,525,088 in the last 90 days. Insiders own 15.19% of the company’s stock.

Carvana Price Performance

CVNA stock opened at $65.65 on Wednesday. The business has a fifty day moving average of $67.45 and a two-hundred day moving average of $71.99. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.01 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 10.45 and a beta of 3.46. Carvana Co. has a 52-week low of $54.46 and a 52-week high of $97.38.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. As a group, research analysts anticipate that Carvana Co. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

CVNA has been the topic of a number of recent research reports. Argus lowered their price objective on Carvana from $500.00 to $100.00 in a research note on Monday, May 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $102.00 target price on shares of Carvana in a research note on Monday. Stephens lifted their price target on Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Bank of America boosted their price target on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Finally, Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.53.

Carvana Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.