Global Endowment Management LP Decreases Stake in Carvana Co. (NYSE:CVNA)

Key Points

• Global Endowment Management LP has reduced its stake in Carvana Co. by 57.4%, now holding 2,736 shares worth about $572,000 after selling 3,683 shares in the first quarter.
• Carvana reported an EPS of $1.28, exceeding estimates, with revenue of $4.84 billion for the most recent quarter, a 41.9% increase year-over-year.
• Analysts mostly hold a "Moderate Buy" consensus on Carvana, with an average target price of $383.47, highlighting a mixture of buy and hold ratings from various firms.

Global Endowment Management LP lowered its position in Carvana Co. (NYSE:CVNA - Free Report) by 57.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,736 shares of the company's stock after selling 3,683 shares during the quarter. Global Endowment Management LP's holdings in Carvana were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the 1st quarter worth approximately $33,000. Transce3nd LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $48,000. Versant Capital Management Inc lifted 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 worth $61,000 after buying an additional 82 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Carvana during the 1st quarter worth approximately $90,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Carvana during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

Shares of CVNA opened at $350.00 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The stock has a market capitalization of $75.32 billion, a P/E ratio of 87.72, a P/E/G ratio of 1.13 and a beta of 3.57. The company's fifty day moving average is $337.99 and its two-hundred day moving average is $275.46. Carvana Co. has a 1 year low of $124.39 and a 1 year high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. Carvana's revenue was up 41.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. On average, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. The trade was a 0.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,036,140 shares of company stock valued at $1,056,235,871. Insiders own 17.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVNA shares. Gordon Haskett started coverage on shares of Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Bank of America lifted 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. Citigroup reaffirmed an "outperform" rating on shares of Carvana in a report on Thursday, July 31st. Finally, Evercore ISI lifted 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. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $383.47.

About Carvana

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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