Carvana Co. $CVNA Position Lowered by Metavasi Capital LP

Key Points

• Metavasi Capital LP has reduced its holdings in Carvana Co. by 13.9%, now owning 57,307 shares, which constitute 7.6% of its investment portfolio.
• Carvana's stock has received multiple analyst upgrades, with price targets ranging from $375 to $450, indicating strong investor optimism.
• The company reported a 41.9% increase in revenue year-over-year, with an earnings per share of $1.28, surpassing analysts' expectations.

Metavasi Capital LP cut its holdings in shares of Carvana Co. (NYSE:CVNA - Free Report) by 13.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,307 shares of the company's stock after selling 9,257 shares during the quarter. Carvana comprises 7.6% of Metavasi Capital LP's investment portfolio, making the stock its 4th biggest position. Metavasi Capital LP's holdings in Carvana were worth $11,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVNA. Tower Research Capital LLC TRC boosted its position in Carvana by 2,669.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,274 shares of the company's stock worth $259,000 after acquiring an additional 1,228 shares during the last quarter. Lido Advisors LLC boosted its position in Carvana by 137.4% during the fourth quarter. Lido Advisors LLC now owns 4,632 shares of the company's stock worth $942,000 after acquiring an additional 2,681 shares during the last quarter. Comerica Bank boosted its position in Carvana by 6.1% during the fourth quarter. Comerica Bank now owns 2,629 shares of the company's stock worth $535,000 after acquiring an additional 151 shares during the last quarter. AXA S.A. acquired a new position in Carvana during the fourth quarter worth about $201,000. Finally, BNP Paribas Financial Markets boosted its holdings in Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after purchasing an additional 481,912 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Carvana

In related news, COO Benjamin E. Huston sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $364.66, for a total transaction of $3,646,600.00. Following the sale, the chief operating officer directly owned 104,416 shares of the company's stock, valued at $38,076,338.56. This represents a 8.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of the company'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. The trade was a 2.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,522,933 shares of company stock valued at $888,062,136 in the last 90 days. Corporate insiders own 17.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVNA. JMP Securities boosted their target price on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Gordon Haskett began coverage on shares of Carvana in a report on Monday, July 14th. They issued a "hold" rating and a $329.00 target price on the stock. Evercore ISI boosted their target price on shares of Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a report on Tuesday, August 12th. Bank of America boosted their target price on shares of Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Piper Sandler boosted their target price on shares of Carvana from $340.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Carvana has an average rating of "Moderate Buy" and an average target price of $383.47.

Carvana Trading Down 0.3%

Shares of Carvana stock traded down $0.94 on Friday, reaching $369.23. The company had a trading volume of 2,443,272 shares, compared to its average volume of 2,330,485. The firm's 50 day moving average price is $351.83 and its two-hundred day moving average price is $285.57. The firm has a market cap of $79.46 billion, a PE ratio of 92.54, a PEG ratio of 1.22 and a beta of 3.51. Carvana Co. has a 52-week low of $124.39 and a 52-week high of $413.33. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. The business 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%. The business's revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

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.