Privium Fund Management B.V. Invests $1.69 Million in Carvana Co. $CVNA

Privium Fund Management B.V. bought a new stake in Carvana Co. (NYSE:CVNA) during the second quarter, HoldingsChannel reports. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $1,685,000. Carvana makes up approximately 0.4% of Privium Fund Management B.V.’s portfolio, making the stock its 24th largest position.

Other hedge funds also recently bought and sold shares of the company. Warren Street Wealth Advisors LLC raised its holdings in shares of Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after acquiring an additional 31 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after purchasing an additional 60 shares in the last quarter. Harbour Investments Inc. raised its stake in Carvana by 46.5% in the 2nd quarter. Harbour Investments Inc. now owns 208 shares of the company’s stock valued at $70,000 after purchasing an additional 66 shares during the last quarter. Commerce Bank lifted its holdings in Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after purchasing an additional 69 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock valued at $466,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Up 1.3%

Shares of NYSE CVNA opened at $338.00 on Tuesday. The stock has a market capitalization of $72.74 billion, a PE ratio of 84.71, a P/E/G ratio of 1.08 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. The firm has a fifty day moving average of $363.95 and a 200-day moving average of $322.12. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 93,376 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total transaction of $36,805,084.16. Following the transaction, the insider directly owned 6,624 shares of the company’s stock, valued at $2,610,915.84. The trade was a 93.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $371.30, for a total transaction of $37,130,000.00. Following the completion of the sale, the insider directly owned 35,142,792 shares of the company’s stock, valued at $13,048,518,669.60. The trade was a 0.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,618,292 shares of company stock valued at $588,235,207 in the last three months. Corporate insiders own 16.36% of the company’s stock.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday. Stephens reaffirmed an “overweight” rating and issued a $440.00 target price on shares of Carvana in a research note on Tuesday, September 23rd. DA Davidson increased their price target on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective for the company. Finally, Royal Bank Of Canada upped their target price on Carvana from $400.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price 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.