Amundi Raises Holdings in Carvana Co. $CVNA

Key Points

• Amundi significantly increased its Carvana stake by 379.7% in the second quarter, acquiring 1.92 million additional shares for a total holding worth approximately $159.4 million. Institutional investors collectively own 56.71% of the company.
• Carvana reported quarterly revenue of $7.38 billion, up 52.4% year over year, and EPS of $0.42, beating analyst estimates of $0.39. The stock opened at $75.07, compared with a 12-month range of $54.46 to $97.38.
• Analysts maintain a generally bullish view, with a consensus “Moderate Buy” rating and an average price target of $84.14. However, insiders sold about $27.5 million worth of shares during the last quarter, including sales by the COO and a director under pre-arranged trading plans.

Amundi boosted its holdings in Carvana Co. (NYSE:CVNA - Free Report) by 379.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,421,045 shares of the company's stock after buying an additional 1,916,349 shares during the quarter. Amundi owned 0.22% of Carvana worth $159,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CVNA. Gilder Gagnon Howe & Co. LLC boosted its holdings in Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company's stock worth $622,000 after purchasing an additional 31 shares during the last quarter. Insigneo Advisory Services LLC increased its position in Carvana by 4.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company's stock valued at $294,000 after acquiring an additional 32 shares during the last quarter. Benjamin Edwards Inc. increased its position in Carvana by 6.2% during the fourth quarter. Benjamin Edwards Inc. now owns 586 shares of the company's stock valued at $247,000 after acquiring an additional 34 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Carvana by 29.8% in the first quarter. SJS Investment Consulting Inc. now owns 183 shares of the company's stock valued at $58,000 after acquiring an additional 42 shares during the period. Finally, Moors & Cabot Inc. boosted its position in Carvana by 5.7% in the third quarter. Moors & Cabot Inc. now owns 813 shares of the company's stock worth $307,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Price Performance

NYSE CVNA opened at $75.07 on Wednesday. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The stock has a market cap of $82.61 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 2.15 and a beta of 3.49. The company's 50 day moving average is $69.29 and its two-hundred day moving average is $68.38.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the firm posted $1.51 EPS. The company's revenue was up 52.4% on a year-over-year basis. As a group, research analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVNA shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $80.00 price target on shares of Carvana in a research report on Friday, July 31st. Barclays cut their target price on shares of Carvana from $94.00 to $93.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $120.00 target price on shares of Carvana in a report on Thursday, July 30th. Royal Bank Of Canada set a $82.00 price target on shares of Carvana and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Finally, BTIG Research reiterated a "buy" rating and set a $87.00 price target on shares of Carvana in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.14.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin Huston sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $3,577,500.00. Following the completion of the transaction, the chief operating officer owned 478,693 shares in the company, valued at $34,250,484.15. The trade was a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $75.00, for a total value of $1,089,375.00. Following the completion of the transaction, the director directly owned 214,960 shares in the company, valued at $16,122,000. This trade represents a 6.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 400,775 shares of company stock worth $27,522,038 in the last quarter. Company insiders own 15.19% of the company's stock.

About Carvana

Carvana Co NYSE: CVNA is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.

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