Steadview Capital Management LLC Reduces Position in Carvana Co. (NYSE:CVNA)

Steadview Capital Management LLC reduced its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515,255 shares of the company's stock after selling 97,150 shares during the quarter. Carvana comprises approximately 23.4% of Steadview Capital Management LLC's holdings, making the stock its largest position. Steadview Capital Management LLC owned 0.24% of Carvana worth $107,730,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVNA. Yousif Capital Management LLC increased its position in Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock valued at $265,000 after acquiring an additional 50 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after purchasing an additional 74 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares during the period. Versant Capital Management Inc raised its stake in shares of Carvana by 39.4% during the first 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. Finally, Cerity Partners LLC lifted its holdings in Carvana by 2.3% in the fourth quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock worth $845,000 after purchasing an additional 99 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Down 1.5%

NYSE:CVNA traded down $5.10 during trading hours on Thursday, hitting $345.99. 2,130,945 shares of the company's stock traded hands, compared to its average volume of 3,834,428. Carvana Co. has a twelve month low of $118.50 and a twelve month high of $364.00. The firm has a market cap of $74.09 billion, a P/E ratio of 123.19, a P/E/G ratio of 1.37 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The stock's fifty day moving average price is $312.35 and its two-hundred day moving average price is $250.78.

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

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 7,100 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $350.00, for a total value of $2,485,000.00. Following the transaction, the insider directly owned 197,832 shares of the company's stock, valued at $69,241,200. This represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $348.68, for a total value of $3,486,800.00. Following the sale, the chief executive officer owned 671,440 shares of the company's stock, valued at approximately $234,117,699.20. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,526,961 shares of company stock valued at $495,828,642 in the last quarter. Company insiders own 17.12% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Stephens raised their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday. Needham & Company LLC restated a "buy" rating and issued a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Finally, Bank of America boosted their price objective on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Carvana has an average rating of "Moderate Buy" and an average target price of $303.59.

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.