AG2R LA Mondiale Gestion D Actifs Reduces Holdings in Carvana Co. $CVNA

Key Points

• AG2R LA Mondiale Gestion D Actifs reduced its stake in Carvana Co. by 29.6% during the second quarter, holding 4,876 shares valued at approximately $1.64 million after selling 2,050 shares.
• Carvana reported $1.28 earnings per share for the last quarter, surpassing analysts' expectations, and recorded a revenue of $4.84 billion, a 41.9% increase compared to the previous year.
• Insiders at Carvana have significantly sold their holdings, with 1,498,292 shares sold worth over $547 million in the last ninety days, leading to a 28.79% decrease in insider ownership.

AG2R LA Mondiale Gestion D Actifs lessened its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 29.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,876 shares of the company's stock after selling 2,050 shares during the period. AG2R LA Mondiale Gestion D Actifs' holdings in Carvana were worth $1,643,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Carvana by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company's stock valued at $144,835,000 after buying an additional 9,694 shares during the last quarter. Northern Trust Corp lifted its position in shares of Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company's stock valued at $143,400,000 after buying an additional 35,168 shares during the last quarter. Finally, Contour Asset Management LLC lifted its position in shares of Carvana by 71.4% during the 1st quarter. Contour Asset Management LLC now owns 643,114 shares of the company's stock valued at $134,462,000 after buying an additional 267,994 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Price Performance

Shares of NYSE CVNA opened at $351.33 on Friday. The firm has a market capitalization of $75.61 billion, a P/E ratio of 88.05, a P/E/G ratio of 1.12 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The stock's 50-day simple moving average is $363.68 and its two-hundred day simple moving average is $325.82. Carvana Co. has a twelve month low of $148.25 and a twelve month high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company's quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVNA shares. Wall Street Zen cut Carvana from a "buy" rating to a "hold" rating in a research report on Sunday, October 19th. Stephens reiterated an "overweight" rating and set a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. Royal Bank Of Canada boosted their price objective on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Needham & Company LLC reiterated a "buy" rating and set a $500.00 price objective on shares of Carvana in a research note on Friday. Finally, Citigroup reiterated a "buy" rating on shares of Carvana in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $419.94.

Insiders Place Their Bets

In other Carvana news, insider Daniel J. Gill sold 80,000 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $398.91, for a total value of $31,912,800.00. Following the transaction, the insider directly owned 197,832 shares in the company, valued at $78,917,163.12. This represents a 28.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the transaction, the insider owned 6,624 shares in the company, valued at $2,610,915.84. This trade represents a 93.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,498,292 shares of company stock worth $547,914,707 in the last ninety days. 17.12% of the stock is currently owned by insiders.

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.

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