Carvana Co. $CVNA Stock Holdings Lowered by Durable Capital Partners LP

Key Points

• Durable Capital Partners LP has reduced its holdings in Carvana Co. by 10.9% in the first quarter, owning approximately 1.93 million shares which represent 3.6% of its total assets.
• Insider trading activity saw CEO Ernest C. Garcia III sell 10,000 shares for about $3.7 million, resulting in a 1.97% decrease in his holdings.
• Carvana recently announced its quarterly earnings, reporting $1.28 earnings per share and a revenue increase of 41.9% year-over-year, surpassing analyst expectations.

Durable Capital Partners LP decreased its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 10.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,932,972 shares of the company's stock after selling 235,260 shares during the quarter. Carvana makes up 3.6% of Durable Capital Partners LP's portfolio, making the stock its 9th largest position. Durable Capital Partners LP owned 0.91% of Carvana worth $404,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Brooklyn Investment Group raised its holdings in shares of Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Carvana in the 1st quarter valued at about $33,000. Versant Capital Management Inc raised its holdings in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Carvana in the 1st quarter valued at about $90,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Carvana in the 4th quarter valued at about $98,000. Institutional investors own 56.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CVNA. Oppenheimer upgraded shares of Carvana from a "market perform" rating to an "outperform" rating and set a $450.00 price target for the company in a report on Friday, July 25th. DA Davidson boosted their price target on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Citigroup restated an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $350.00 to $415.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $383.47.

Insider Activity at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $361.04, for a total transaction of $361,040.00. Following the sale, the vice president owned 45,157 shares of the company's stock, valued at approximately $16,303,483.28. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $365.74, for a total transaction of $3,657,400.00. Following the sale, the chief executive officer directly owned 471,440 shares in the company, valued at approximately $172,424,465.60. This represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,522,933 shares of company stock worth $888,062,136 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Down 0.3%

Shares of Carvana stock traded down $0.94 on Friday, reaching $369.23. The stock had a trading volume of 2,443,272 shares, compared to its average volume of 2,330,485. The company has a 50 day moving average price of $351.83 and a 200 day moving average price of $285.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33. The stock has a market capitalization of $79.46 billion, a P/E ratio of 92.54, a P/E/G ratio of 1.22 and a beta of 3.51.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana's revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Carvana Company 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.