Carvana Co. (NYSE:CVNA) Shares Sold by Steadview Capital Management LLC

Steadview Capital Management LLC lessened its stake in Carvana Co. (NYSE:CVNA - Free Report) by 15.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 515,255 shares of the company's stock after selling 97,150 shares during the quarter. Carvana comprises about 23.4% of Steadview Capital Management LLC's investment portfolio, making the stock its largest holding. Steadview Capital Management LLC owned about 0.24% of Carvana worth $107,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVNA. J.Safra Asset Management Corp lifted its holdings in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after purchasing an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Carvana during the fourth quarter worth $51,091,000. Farther Finance Advisors LLC raised its position in Carvana by 333.1% during the first quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after acquiring an additional 2,678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana in the fourth quarter valued at approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at approximately $415,000. Institutional investors own 56.71% of the company's stock.

Insider Activity

In related news, CFO Mark W. Jenkins sold 51,380 shares of Carvana stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $326.03, for a total value of $16,751,421.40. Following the transaction, the chief financial officer directly owned 162,079 shares of the company's stock, valued at $52,842,616.37. The trade was a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the completion of the transaction, the insider directly owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,506,961 shares of company stock valued at $488,853,396. Insiders own 17.12% of the company's stock.

Analyst Ratings Changes

CVNA has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price target on shares of Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Evercore ISI upped their price target on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Finally, Citigroup upped their price target on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $303.59.

Carvana Price Performance

Shares of CVNA opened at $350.61 on Thursday. Carvana Co. has a 12-month low of $118.50 and a 12-month high of $364.00. The business has a 50-day simple moving average of $312.35 and a two-hundred day simple moving average of $250.78. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The stock has a market cap of $75.08 billion, a PE ratio of 123.02, a PEG ratio of 1.35 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. Analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal 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.

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