Natixis Advisors LLC Grows Holdings in Carvana Co. $CVNA

Key Points

• Natixis Advisors LLC increased its stake in Carvana (CVNA) by 5.6% in Q3, owning 136,431 shares after buying an additional 7,216 shares, worth about $51.47 million.
• Carvana reported a strong quarter—$4.22 EPS vs. $1.10 estimate and $5.60 billion revenue (up 58% YoY)—while analysts have trimmed price targets but the consensus remains a Moderate Buy with an average target of $440.59.
• Insiders sold 132,621 shares (~$59.16 million) over the last 90 days; insiders own 16.36% of the stock and institutional investors hold 56.71%.

Natixis Advisors LLC boosted its position in Carvana Co. (NYSE:CVNA - Free Report) by 5.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 136,431 shares of the company's stock after purchasing an additional 7,216 shares during the period. Natixis Advisors LLC owned about 0.06% of Carvana worth $51,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVNA. ORG Partners LLC lifted its position in shares of Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company's stock worth $33,000 after buying an additional 87 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of Carvana in the third quarter valued at approximately $38,000. Washington Trust Advisors Inc. purchased a new stake in shares of Carvana during the third quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Carvana during the second quarter valued at approximately $38,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Carvana during the second quarter worth $49,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several research analyst reports. Gordon Haskett cut their price objective on Carvana from $435.00 to $350.00 and set a "hold" rating on the stock in a research report on Friday, February 20th. Bank of America decreased their target price on Carvana from $460.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 19th. Morgan Stanley reiterated an "overweight" rating on shares of Carvana in a research note on Thursday, January 8th. Barclays reduced their price target on shares of Carvana from $530.00 to $450.00 and set an "overweight" rating for the company in a research report on Friday, February 20th. Finally, Royal Bank Of Canada decreased their price objective on shares of Carvana from $500.00 to $440.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $440.59.

Carvana Price Performance

Shares of NYSE CVNA opened at $328.74 on Tuesday. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. The stock has a fifty day simple moving average of $397.33 and a two-hundred day simple moving average of $380.49. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $486.89. The firm has a market cap of $71.94 billion, a price-to-earnings ratio of 40.89 and a beta of 3.60.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The business's revenue was up 58.0% on a year-over-year basis. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, Director J Danforth Quayle sold 2,900 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $309.97, for a total transaction of $898,913.00. Following the completion of the transaction, the director owned 41,913 shares in the company, valued at $12,991,772.61. This trade represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $393.04, for a total transaction of $393,040.00. Following the completion of the transaction, the vice president owned 37,192 shares of the company's stock, valued at $14,617,943.68. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 132,621 shares of company stock worth $59,163,610 in the last ninety days. 16.36% of the stock is owned by corporate insiders.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.