Carvana Co. (NYSE:CVNA) Holdings Cut by FPR Partners LLC

FPR Partners LLC reduced its stake in Carvana Co. (NYSE:CVNA - Free Report) by 50.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,100 shares of the company's stock after selling 202,900 shares during the period. Carvana accounts for 4.4% of FPR Partners LLC's holdings, making the stock its 9th biggest holding. FPR Partners LLC owned about 0.09% of Carvana worth $40,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CVNA. Norges Bank purchased a new stake in shares of Carvana in the 4th quarter worth approximately $179,364,000. Vanguard Group Inc. lifted its position in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the period. Castle Hook Partners LP purchased a new stake in shares of Carvana in the 4th quarter worth approximately $116,020,000. BNP Paribas Financial Markets lifted its position in shares of Carvana by 89.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after purchasing an additional 481,912 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Carvana in the 4th quarter worth approximately $86,636,000. 56.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVNA. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "overweight" rating in a research report on Monday, March 31st. Wedbush raised shares of Carvana to a "hold" rating in a research report on Thursday, May 8th. William Blair reaffirmed an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Piper Sandler upped their price target on shares of Carvana from $225.00 to $230.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Finally, DA Davidson increased their target price on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $268.59.

Carvana Stock Performance

Shares of NYSE CVNA traded up $15.18 during midday trading on Tuesday, reaching $294.80. The company had a trading volume of 4,716,769 shares, compared to its average volume of 3,922,916. The business's 50-day simple moving average is $211.21 and its 200 day simple moving average is $227.94. The stock has a market cap of $62.84 billion, a P/E ratio of 187.77 and a beta of 3.61. Carvana Co. has a 1 year low of $97.55 and a 1 year high of $298.67. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. On average, analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael E. Maroone sold 9,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $273.44, for a total value of $2,460,960.00. Following the sale, the director now owns 143,504 shares in the company, valued at $39,239,733.76. This represents a 5.90% 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, insider Thomas Taira sold 27,593 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the sale, the insider now owns 179,673 shares in the company, valued at approximately $40,431,815.19. This represents a 13.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 441,353 shares of company stock valued at $99,768,424. Insiders own 17.12% of the company's stock.

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.