Privium Fund Management B.V. Takes Position in Carvana Co. $CVNA

Key Points

• Privium Fund Management B.V. acquired 5,000 shares of Carvana Co. during the second quarter, valued at approximately $1.68 million, making it the firm's 24th largest holding.
• Insider transactions included the sale of 15,000 shares by Paul W. Breaux for $5.97 million, indicating a significant reduction in his position in the company.
• Analysts predict a moderate outlook for Carvana with a price target average of $416.33, as several firms upgrade their ratings and set new price objectives for the stock.

Privium Fund Management B.V. bought a new position in shares of Carvana Co. (NYSE:CVNA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the company's stock, valued at approximately $1,685,000. Carvana comprises about 0.4% of Privium Fund Management B.V.'s portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hilltop National Bank purchased a new position in Carvana during the 2nd quarter worth $25,000. Brooklyn Investment Group boosted its stake in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Carvana during the first quarter worth about $33,000. SJS Investment Consulting Inc. grew its holdings in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after buying an additional 96 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Carvana in the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total transaction of $5,970,000.00. Following the sale, the insider owned 81,716 shares of the company's stock, valued at $32,522,968. The trade was a 15.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the completion of the transaction, the vice president directly owned 43,513 shares of the company's stock, valued at $16,976,161.82. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,618,292 shares of company stock worth $588,235,207. 16.36% of the stock is currently owned by company insiders.

Carvana Price Performance

Carvana stock opened at $338.00 on Tuesday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a one year low of $148.25 and a one year high of $413.33. The company has a market cap of $72.74 billion, a P/E ratio of 84.71, a price-to-earnings-growth ratio of 1.08 and a beta of 3.55. The business has a fifty day moving average of $363.95 and a two-hundred day moving average of $322.12.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley set a $450.00 price objective on Carvana in a research report on Monday. Zacks Research raised Carvana from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. DA Davidson boosted their price objective on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wall Street Zen cut shares of Carvana from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Carvana in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Carvana has an average rating of "Moderate Buy" and an average price target of $416.33.

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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