KBC Group NV Increases Stake in Carvana Co. (NYSE:CVNA)

KBC Group NV lifted its position in Carvana Co. (NYSE:CVNA) by 23.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,866 shares of the company’s stock after acquiring an additional 538 shares during the quarter. KBC Group NV’s holdings in Carvana were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVNA. Plato Investment Management Ltd raised its holdings in shares of Carvana by 113.3% in the 3rd quarter. Plato Investment Management Ltd now owns 2,210 shares of the company’s stock valued at $384,000 after purchasing an additional 1,174 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Carvana by 999.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,330 shares of the company’s stock valued at $232,000 after buying an additional 1,209 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in Carvana in the third quarter worth approximately $439,000. Entropy Technologies LP lifted its holdings in Carvana by 428.5% during the third quarter. Entropy Technologies LP now owns 23,541 shares of the company’s stock worth $4,099,000 after buying an additional 19,087 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in Carvana by 5.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,281 shares of the company’s stock valued at $6,839,000 after acquiring an additional 2,004 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVNA shares. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. JMP Securities increased their price target on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Citigroup lifted their price objective on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, BTIG Research raised their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $217.71.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $155.94, for a total value of $15,594,000.00. Following the sale, the insider now directly owns 90,814 shares of the company’s stock, valued at $14,161,535.16. The trade was a 52.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 9,186 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $156.95, for a total value of $1,441,742.70. Following the completion of the transaction, the insider now directly owns 41,433,131 shares of the company’s stock, valued at approximately $6,502,929,910.45. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,527,249 shares of company stock valued at $453,021,322 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Up 1.5 %

CVNA opened at $244.63 on Tuesday. The company has a fifty day moving average of $194.89 and a two-hundred day moving average of $151.06. The stock has a market capitalization of $50.79 billion, a price-to-earnings ratio of 24,462.50 and a beta of 3.37. Carvana Co. has a fifty-two week low of $29.84 and a fifty-two week high of $259.39. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, research analysts expect that Carvana Co. will post 0.62 earnings per share for the current year.

Carvana 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.