Carvana Co. (NYSE:CVNA) Shares Purchased by Steadview Capital Management LLC

Steadview Capital Management LLC boosted its stake in Carvana Co. (NYSE:CVNA - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 876,905 shares of the company's stock after purchasing an additional 118,500 shares during the period. Carvana makes up approximately 15.9% of Steadview Capital Management LLC's holdings, making the stock its 3rd largest position. Steadview Capital Management LLC owned about 0.44% of Carvana worth $46,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVNA. Blue Trust Inc. bought a new stake in Carvana during the 4th quarter worth approximately $29,000. Hanseatic Management Services Inc. bought a new stake in Carvana during the 3rd quarter valued at approximately $34,000. Harvest Fund Management Co. Ltd lifted its holdings in Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company's stock worth $50,000 after purchasing an additional 1,103 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Carvana by 1,370.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,470 shares of the company's stock worth $62,000 after purchasing an additional 1,370 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Carvana in the third quarter worth $64,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Performance

CVNA stock traded up $5.17 on Friday, hitting $121.67. 8,528,363 shares of the company's stock were exchanged, compared to its average volume of 5,397,261. The stock has a market cap of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. The firm has a 50 day moving average price of $81.81 and a two-hundred day moving average price of $55.88. Carvana Co. has a 12-month low of $6.92 and a 12-month high of $124.20.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The company's quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.97) EPS. Sell-side analysts expect that Carvana Co. will post -3.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wedbush lifted their price objective on Carvana from $80.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Carvana in a research report on Thursday. William Blair restated an "outperform" rating on shares of Carvana in a report on Thursday. Jefferies Financial Group raised shares of Carvana from an "underperform" rating to a "hold" rating and increased their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Finally, Morgan Stanley increased their price objective on shares of Carvana from $32.00 to $45.00 and gave the stock an "underweight" rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $73.44.

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 55,000 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.76, for a total value of $4,771,800.00. Following the sale, the chief financial officer now directly owns 178,156 shares of the company's stock, valued at $15,456,814.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the business's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the sale, the insider now owns 3,312,500 shares of the company's stock, valued at approximately $265,430,625. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the sale, the chief financial officer now owns 178,156 shares in the company, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. Insiders have sold 442,233 shares of company stock worth $38,200,169 over the last 90 days. 17.12% of the stock is currently owned by company insiders.

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.