KBC Group NV Grows Position in Carvana Co. (NYSE:CVNA)

KBC Group NV lifted its position in Carvana Co. (NYSE:CVNA - Free Report) by 68.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,496 shares of the company's stock after purchasing an additional 6,310 shares during the period. KBC Group NV's holdings in Carvana were worth $3,240,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Carvana by 21.4% during the 4th quarter. IFP Advisors Inc now owns 550 shares of the company's stock valued at $112,000 after purchasing an additional 97 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Carvana by 19.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company's stock worth $465,000 after buying an additional 374 shares during the last quarter. Metis Global Partners LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $321,000. Smartleaf Asset Management LLC raised its holdings in shares of Carvana by 80.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 576 shares of the company's stock valued at $121,000 after acquiring an additional 256 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Carvana by 265.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,697 shares of the company's stock worth $345,000 after acquiring an additional 1,233 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. Citigroup reissued an "outperform" rating on shares of Carvana in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. JMP Securities set a $440.00 price objective on Carvana and gave the company a "market outperform" rating in a research report on Wednesday. Finally, Wedbush raised Carvana to a "hold" rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $293.88.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the sale, the insider directly owned 37,092,317 shares of the company's stock, valued at $12,870,663,075.83. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the transaction, the chief operating officer directly owned 123,803 shares of the company's stock, valued at approximately $18,681,872.70. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,337,111 shares of company stock valued at $420,026,399 in the last quarter. Insiders own 17.12% of the company's stock.

Carvana Price Performance

CVNA opened at $343.45 on Thursday. The firm has a market cap of $73.55 billion, a PE ratio of 120.51, a P/E/G ratio of 1.32 and a beta of 3.59. The stock has a 50-day moving average price of $301.34 and a 200-day moving average price of $246.91. Carvana Co. has a 1 year low of $118.50 and a 1 year high of $351.43. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.

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