BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 2,602 Shares of Carvana Co. $CVNA

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Carvana Co. (NYSE:CVNA) by 42.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,662 shares of the company’s stock after purchasing an additional 2,602 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Carvana were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Huntington National Bank lifted its holdings in shares of Carvana by 168.4% in the 2nd quarter. Huntington National Bank now owns 212 shares of the company’s stock worth $71,000 after acquiring an additional 133 shares during the last quarter. Bryce Point Capital LLC bought a new stake in shares of Carvana in the 2nd quarter worth approximately $1,023,000. Freestone Capital Holdings LLC bought a new stake in shares of Carvana in the 2nd quarter worth approximately $273,000. K.J. Harrison & Partners Inc bought a new stake in shares of Carvana in the 2nd quarter worth approximately $1,685,000. Finally, Machina Capital S.A.S. bought a new stake in shares of Carvana in the 2nd quarter worth approximately $1,100,000. 56.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $460.00 price objective on shares of Carvana in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Gordon Haskett assumed coverage on shares of Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective for the company. Piper Sandler lifted their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average price target of $415.50.

Carvana Stock Down 0.2%

Shares of NYSE CVNA opened at $309.20 on Thursday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The firm’s fifty day moving average is $359.57 and its 200 day moving average is $333.26. The company has a market cap of $66.54 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 1.12 and a beta of 3.50. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Ryan S. Keeton sold 32,370 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the transaction, the insider directly owned 115,456 shares of the company’s stock, valued at approximately $34,830,766.08. The trade was a 21.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira J. Platt sold 14,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the transaction, the director directly owned 7,231 shares in the company, valued at approximately $2,741,561.34. The trade was a 65.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 753,475 shares of company stock worth $268,535,378. 17.12% of the stock is owned by corporate insiders.

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.