Amundi Sells 59,495 Shares of Carvana Co. $CVNA

Amundi decreased its holdings in Carvana Co. (NYSE:CVNA) by 16.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 294,002 shares of the company’s stock after selling 59,495 shares during the period. Amundi owned approximately 0.14% of Carvana worth $100,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Carvana by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock valued at $466,000 after acquiring an additional 72 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Carvana by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock valued at $102,632,000 after purchasing an additional 27,912 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Carvana by 17.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,234 shares of the company’s stock valued at $19,702,000 after purchasing an additional 13,796 shares during the last quarter. Swiss National Bank grew its holdings in shares of Carvana by 1.4% during the 1st quarter. Swiss National Bank now owns 326,200 shares of the company’s stock valued at $68,202,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Townsquare Capital LLC increased its position in Carvana by 69.1% during the 1st quarter. Townsquare Capital LLC now owns 3,036 shares of the company’s stock worth $635,000 after purchasing an additional 1,241 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI cut their target price on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. Wedbush raised Carvana from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $380.00 to $400.00 in a report on Monday, November 24th. Zacks Research lowered Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. BTIG Research reiterated a “buy” rating and issued a $450.00 target price on shares of Carvana in a research report on Thursday, October 30th. Finally, Barclays assumed coverage on Carvana in a report on Tuesday, November 11th. They set an “overweight” rating and a $390.00 price target on the stock. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $422.10.

Carvana Price Performance

Carvana stock opened at $400.34 on Monday. The stock’s 50 day moving average is $346.53 and its 200 day moving average is $346.08. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The firm has a market cap of $87.09 billion, a P/E ratio of 91.40, a P/E/G ratio of 1.45 and a beta of 3.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55.

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

Insider Buying and Selling at Carvana

In other news, insider Ryan S. Keeton sold 32,370 shares of Carvana stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total value of $9,765,381.60. Following the completion of the transaction, the insider directly owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ira J. Platt sold 14,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total value of $5,307,960.00. Following the completion of the transaction, the director directly owned 7,231 shares in the company, valued at $2,741,561.34. This represents a 65.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 422,380 shares of company stock valued at $156,642,255 over the last three months. 16.36% of the stock is currently owned by corporate insiders.

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.