Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 104,460 Carvana Co. $CVNA

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Carvana Co. (NYSE:CVNA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 104,460 shares of the company’s stock, valued at approximately $6,876,000.

Several other hedge funds have also bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock valued at $6,243,000 after buying an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after acquiring an additional 181 shares in the last quarter. Cerity Partners LLC increased its position in shares of Carvana by 28.8% during the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after acquiring an additional 1,226 shares in the last quarter. AXA S.A. raised its holdings in shares of Carvana by 340.7% in the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after acquiring an additional 3,288 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after acquiring an additional 825 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $74.65 on Friday. The business’s fifty day simple moving average is $68.89 and its 200 day simple moving average is $68.31. The firm has a market capitalization of $82.15 billion, a P/E ratio of 41.29, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. Carvana Co. has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business’s revenue was up 52.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.51 earnings per share. As a group, analysts anticipate that Carvana Co. will post 1.65 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Carvana in a report on Thursday, July 30th. Evercore set a $75.00 price target on Carvana in a research report on Thursday, July 30th. UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. BNP Paribas Exane cut their price objective on shares of Carvana from $86.00 to $69.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of Carvana in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Insider Activity at Carvana

In related news, COO Benjamin Huston sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total transaction of $3,577,500.00. Following the completion of the sale, the chief operating officer owned 478,693 shares in the company, valued at approximately $34,250,484.15. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of Carvana stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the completion of the sale, the director directly owned 214,960 shares in the company, valued at approximately $16,122,000. This represents a 6.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 420,897 shares of company stock worth $28,914,626. 15.19% of the stock is owned by company insiders.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.