Carvana Co. (NYSE:CVNA) is Steadview Capital Management LLC's Largest Position

Steadview Capital Management LLC cut its stake in Carvana Co. (NYSE:CVNA - Free Report) by 15.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 515,255 shares of the company's stock after selling 97,150 shares during the quarter. Carvana accounts for about 23.4% of Steadview Capital Management LLC's investment portfolio, making the stock its largest holding. Steadview Capital Management LLC owned 0.24% of Carvana worth $107,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Yousif Capital Management LLC grew its position in shares of Carvana by 4.1% during 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 grew its position in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after acquiring an additional 74 shares during the period. Great Lakes Advisors LLC grew its position in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after acquiring an additional 77 shares during the period. Versant Capital Management Inc grew its position in shares of Carvana by 39.4% during the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after acquiring an additional 82 shares during the period. Finally, Cerity Partners LLC grew its position in shares of Carvana by 2.3% during the 4th quarter. Cerity Partners LLC now owns 4,314 shares of the company's stock valued at $845,000 after acquiring an additional 99 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and set a $340.00 target price on shares of Carvana in a research note on Thursday, May 8th. Wedbush upgraded shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Evercore ISI raised their target price on shares of Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Carvana from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average target price of $303.59.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 51,380 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the sale, the chief financial officer directly owned 162,079 shares of the company's stock, valued at approximately $52,842,616.37. This represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the completion of the sale, 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 three months, insiders sold 1,526,961 shares of company stock worth $495,828,642. Company insiders own 17.12% of the company's stock.

Carvana Price Performance

Shares of NYSE:CVNA traded down $1.53 during trading on Friday, reaching $344.02. The stock had a trading volume of 1,160,960 shares, compared to its average volume of 3,824,036. The stock has a market cap of $73.67 billion, a PE ratio of 120.85, a PEG 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. Carvana Co. has a 1-year low of $118.50 and a 1-year high of $364.00. The business has a fifty day moving average price of $314.24 and a 200-day moving average price of $251.63.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company's revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. On average, equities analysts forecast 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.