Lisanti Capital Growth LLC Trims Holdings in Carvana Co. (NYSE:CVNA)

Lisanti Capital Growth LLC reduced its stake in Carvana Co. (NYSE:CVNA - Free Report) by 52.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,035 shares of the company's stock after selling 2,290 shares during the period. Lisanti Capital Growth LLC's holdings in Carvana were worth $425,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC raised its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the 4th quarter valued at about $31,000. Transce3nd LLC acquired a new stake in shares of Carvana in the 4th quarter valued at about $48,000. Versant Capital Management Inc raised its stake in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after purchasing an additional 82 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Carvana in the 4th quarter valued at about $75,000. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 70,166 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider directly owned 201,087 shares in the company, valued at approximately $56,591,914.41. The trade was a 25.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 51,380 shares of Carvana stock in a transaction 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. This trade represents a 24.07% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,287,111 shares of company stock worth $403,672,899. 16.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVNA. Piper Sandler set a $340.00 price objective on Carvana and gave the company an "overweight" rating in a report on Thursday, May 22nd. Evercore ISI lifted their price target on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Needham & Company LLC restated a "buy" rating and set a $340.00 price objective on shares of Carvana in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $284.18.

Carvana Stock Performance

NYSE:CVNA traded up $1.86 during trading hours on Tuesday, hitting $338.82. 3,329,099 shares of the company were exchanged, compared to its average volume of 3,860,941. Carvana Co. has a 52-week low of $118.50 and a 52-week high of $351.43. The stock has a market capitalization of $72.55 billion, a price-to-earnings ratio of 118.88, a PEG ratio of 1.31 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The company's 50 day moving average price is $296.34 and its 200-day moving average price is $245.59.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The firm's revenue for the quarter was up 38.3% on a year-over-year basis. As a group, research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current 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.