Carvana Co. $CVNA Holdings Cut by Steadview Capital Management LLC

Steadview Capital Management LLC decreased its position in shares of Carvana Co. (NYSE:CVNA) by 13.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 443,535 shares of the company’s stock after selling 71,720 shares during the period. Carvana accounts for 21.6% of Steadview Capital Management LLC’s holdings, making the stock its 2nd biggest position. Steadview Capital Management LLC owned 0.21% of Carvana worth $149,454,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CVNA. Victory Capital Management Inc. raised its stake in shares of Carvana by 7.0% in the first quarter. Victory Capital Management Inc. now owns 40,476 shares of the company’s stock worth $8,463,000 after purchasing an additional 2,631 shares during the last quarter. Private Advisor Group LLC raised its position in Carvana by 3.7% during the 1st quarter. Private Advisor Group LLC now owns 23,838 shares of the company’s stock worth $4,984,000 after buying an additional 860 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in Carvana by 410.4% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,053 shares of the company’s stock valued at $1,266,000 after acquiring an additional 4,867 shares during the period. IFP Advisors Inc lifted its stake in Carvana by 16.0% during the 1st quarter. IFP Advisors Inc now owns 638 shares of the company’s stock valued at $133,000 after acquiring an additional 88 shares during the period. Finally, Choreo LLC purchased a new stake in shares of Carvana in the 1st quarter valued at $216,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVNA. Weiss Ratings restated a “hold (c-)” rating on shares of Carvana in a research report on Monday. Citigroup decreased their price objective on Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research note on Friday, July 25th. Bank of America lowered their price objective on Carvana from $405.00 to $385.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Evercore ISI dropped their price objective on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $414.16.

Insiders Place Their Bets

In related news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $305.00, for a total value of $305,000.00. Following the sale, the vice president directly owned 41,868 shares in the company, valued at approximately $12,769,740. The trade was a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $325.03, for a total value of $3,250,300.00. Following the sale, the insider owned 104,958 shares of the company’s stock, valued at approximately $34,114,498.74. This trade represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 406,452 shares of company stock valued at $147,936,506. 16.36% of the stock is owned by company insiders.

Carvana Stock Down 1.7%

Carvana stock opened at $317.78 on Wednesday. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The stock has a market capitalization of $69.13 billion, a PE ratio of 72.55, a price-to-earnings-growth ratio of 1.17 and a beta of 3.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The business has a 50 day simple moving average of $349.86 and a 200-day simple moving average of $339.21.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. On average, analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal 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.