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

KBC Group NV increased its stake in shares of Carvana Co. (NYSE:CVNA) by 23.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,866 shares of the company’s stock after acquiring an additional 538 shares during the quarter. KBC Group NV’s holdings in Carvana were worth $499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Ridgewood Investments LLC acquired a new position in shares of Carvana during the 2nd quarter valued at about $32,000. Sugarloaf Wealth Management LLC purchased a new position in Carvana during the third quarter worth about $32,000. Summit Securities Group LLC boosted its holdings in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Carvana in the 3rd quarter valued at approximately $40,000. Finally, Fifth Third Bancorp increased its holdings in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVNA. Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities raised their price objective on Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. DA Davidson upped their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen lifted their price target on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC upped their price objective on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $217.71.

Insider Buying and Selling at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the sale, the director now owns 53,407 shares in the company, valued at approximately $12,550,645. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,527,249 shares of company stock valued at $453,021,322. Insiders own 17.12% of the company’s stock.

Carvana Price Performance

Shares of NYSE CVNA opened at $244.63 on Tuesday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a market cap of $50.79 billion, a price-to-earnings ratio of 24,462.50 and a beta of 3.37. The stock’s 50-day moving average is $194.89 and its two-hundred day moving average is $151.06. Carvana Co. has a 1-year low of $29.84 and a 1-year high of $259.39.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Analysts forecast that Carvana Co. will post 0.62 EPS 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.