Carvana Co. $CVNA Shares Sold by Nishkama Capital LLC

Key Points

• Nishkama Capital LLC reduced its stake in Carvana Co. by 13.8% during Q1, now holding 68,475 shares valued at approximately $14.3 million.
• CEO Ernest C. Garcia III sold 10,000 shares for about $3.38 million, representing a 1.90% decrease in his ownership.
• Analysts have mixed views with a consensus of "Moderate Buy", and target prices ranging from $260 to $460.

Nishkama Capital LLC lowered its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 13.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,475 shares of the company's stock after selling 10,925 shares during the quarter. Carvana makes up about 1.5% of Nishkama Capital LLC's investment portfolio, making the stock its 10th largest holding. Nishkama Capital LLC's holdings in Carvana were worth $14,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the period. Vanguard Group Inc. lifted its stake in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. Durable Capital Partners LP lifted its stake in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after buying an additional 129,246 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Carvana by 29.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after buying an additional 278,760 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Carvana by 89.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock valued at $207,086,000 after buying an additional 481,912 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

Carvana Trading Down 1.4%

NYSE CVNA traded down $5.42 on Friday, hitting $371.96. 1,835,740 shares of the company were exchanged, compared to its average volume of 4,076,572. The firm has a market capitalization of $80.05 billion, a P/E ratio of 93.22, a price-to-earnings-growth ratio of 1.21 and a beta of 3.57. Carvana Co. has a twelve month low of $124.39 and a twelve month high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company's 50 day moving average price is $345.70 and its 200-day moving average price is $281.81.

Carvana (NYSE:CVNA - Get Free Report) 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. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVNA shares. Wells Fargo & Company lifted their price objective on shares of Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lifted their price objective on shares of Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI lifted their price objective on shares of Carvana from $365.00 to $370.00 and gave the company an "in-line" rating in a research note on Tuesday, August 12th. Citigroup restated an "outperform" rating on shares of Carvana in a research note on Thursday, July 31st. Finally, William Blair restated an "outperform" rating on shares of Carvana in a research note on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $383.47.

Insider Transactions at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $370.71, for a total transaction of $3,707,100.00. Following the completion of the sale, the chief executive officer owned 496,440 shares of the company's stock, valued at $184,035,272.40. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,865,507 shares of company stock worth $1,003,408,791 over the last three months. 17.12% of the stock is owned by corporate insiders.

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.