Amundi Has $73.91 Million Stake in Carvana Co. $CVNA

Key Points

• Amundi increased its stake in Carvana Co. by 50.6% during the first quarter, bringing its total holdings to 353,497 shares valued at approximately $73.91 million.
• Analysts have raised their price targets for Carvana, with JMP Securities setting a new target of $460.00, while Oppenheimer upgraded their rating to "outperform".
• Carvana reported earnings that exceeded expectations, posting $1.28 EPS and revenues of $4.84 billion, marking a 41.9% year-over-year increase.

Amundi boosted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,497 shares of the company's stock after buying an additional 118,711 shares during the quarter. Amundi owned approximately 0.17% of Carvana worth $73,909,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVNA. Brooklyn Investment Group boosted its stake in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after buying an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Carvana in the 1st quarter valued at $33,000. Versant Capital Management Inc boosted its stake in Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after buying an additional 82 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Carvana in the 1st quarter valued at $90,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Carvana in the 4th quarter valued at $98,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CVNA. JMP Securities boosted their price target on Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Oppenheimer upgraded Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 target price for the company in a research note on Friday, July 25th. Bank of America lifted their price target on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen cut Carvana from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Royal Bank Of Canada lifted their price target on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $383.47.

Carvana Trading Down 0.3%

CVNA stock opened at $369.23 on Friday. The company has a market cap of $79.46 billion, a P/E ratio of 92.54, a PEG ratio of 1.22 and a beta of 3.51. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. 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 business has a fifty day moving average of $351.83 and a 200-day moving average of $285.61.

Carvana (NYSE:CVNA - Get Free Report) last released 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 company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 12,750 shares of the business's stock in a transaction on 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 completion of the sale, the chief financial officer owned 208,581 shares in the company, valued at $76,011,088.02. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $365.74, for a total value of $3,657,400.00. Following the sale, the chief executive officer owned 471,440 shares of the company's stock, valued at approximately $172,424,465.60. The trade was a 2.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,522,933 shares of company stock worth $888,062,136. Insiders own 17.12% of the company's stock.

About Carvana

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.

Want to see what other hedge funds are holding CVNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carvana Co. (NYSE:CVNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.