Carvana Co. (NYSE:CVNA) Shares Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its holdings in Carvana by 28.5%, now owning approximately 0.05% of the company valued at around $22.87 million.
• Major shareholder Ernest C. Garcia II sold 100,000 shares for approximately $34.7 million, reducing ownership by 0.27%.
• Analysts have boosted Carvana's price targets, with Bank of America raising its target from $375 to $425 and maintaining a "buy" rating.

Natixis Advisors LLC raised its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 28.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,400 shares of the company's stock after acquiring an additional 24,289 shares during the period. Natixis Advisors LLC owned approximately 0.05% of Carvana worth $22,873,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Yousif Capital Management LLC lifted its holdings in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares during the period. Versant Capital Management Inc raised its position in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after buying an additional 82 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Carvana by 16.0% in the 1st quarter. IFP Advisors Inc now owns 638 shares of the company's stock worth $133,000 after acquiring an additional 88 shares during the period. Signaturefd LLC boosted its holdings in shares of Carvana by 5.1% in the first quarter. Signaturefd LLC now owns 1,902 shares of the company's stock valued at $398,000 after acquiring an additional 93 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Carvana by 2.3% during the fourth quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock valued at $845,000 after acquiring an additional 99 shares during the period. Institutional investors own 56.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI boosted their price objective on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. Robert W. Baird lifted their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday. Bank of America raised their target price on shares of Carvana from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Carvana has an average rating of "Moderate Buy" and an average price target of $379.65.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the transaction, the insider owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 51,380 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the transaction, the chief financial officer directly owned 162,079 shares of the company's stock, valued at $52,842,616.37. This represents a 24.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,343,765 shares of company stock worth $780,120,744 over the last three months. 17.12% of the stock is currently owned by insiders.

Carvana Trading Down 5.6%

Carvana stock opened at $368.39 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.70. The company has a market capitalization of $78.89 billion, a price-to-earnings ratio of 92.33, a PEG ratio of 1.47 and a beta of 3.57. The company's fifty day moving average price is $333.58 and its two-hundred day moving average price is $267.43. Carvana Co. has a one year low of $118.50 and a one year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating 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 net margin of 3.46% and a return on equity of 40.57%. Carvana's revenue was up 41.9% compared to the same quarter last year. During the same period last year, the business posted ($0.05) EPS. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal 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.

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