Natixis Advisors LLC Acquires 2,054 Shares of Carvana Co. (NYSE:CVNA)

Natixis Advisors LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,885 shares of the company’s stock after purchasing an additional 2,054 shares during the quarter. Natixis Advisors LLC’s holdings in Carvana were worth $14,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the period. Sylebra Capital LLC purchased a new stake in Carvana in the 2nd quarter valued at about $67,686,000. Senator Investment Group LP acquired a new position in Carvana during the second quarter worth $63,767,000. Driehaus Capital Management LLC boosted its stake in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Carvana in the 2nd quarter valued at about $39,997,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the subject of several research analyst reports. Wedbush upped their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. JMP Securities lifted 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. Wells Fargo & Company increased their target price on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. BTIG Research raised their target price on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $217.71.

Carvana Price Performance

NYSE CVNA opened at $244.38 on Thursday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana Co. has a one year low of $29.84 and a one year high of $259.39. The company has a market capitalization of $50.74 billion, a price-to-earnings ratio of 24,462.46 and a beta of 3.37. The stock has a 50-day moving average of $199.47 and a 200 day moving average of $152.61.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate 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. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, sell-side analysts forecast that Carvana Co. will post 0.62 EPS for the current year.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the transaction, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the sale, the chief financial officer now directly owns 90,732 shares of the company’s stock, valued at approximately $20,362,982.76. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,427,249 shares of company stock worth $437,470,322. Insiders own 17.18% of the company’s stock.

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.