Alta Park Capital LP Sells 14,892 Shares of Carvana Co. $CVNA

Alta Park Capital LP decreased its position in shares of Carvana Co. (NYSE:CVNA) by 24.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,412 shares of the company’s stock after selling 14,892 shares during the quarter. Carvana comprises approximately 2.3% of Alta Park Capital LP’s investment portfolio, making the stock its 21st biggest holding. Alta Park Capital LP’s holdings in Carvana were worth $19,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after buying an additional 1,407,762 shares in the last quarter. Vanguard Group Inc. lifted its stake in Carvana by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after buying an additional 3,328,115 shares in the last quarter. State Street Corp lifted its stake in Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the period. Institutional investors own 56.71% of the company’s stock.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana is expanding into new vehicle sales, with seven new-vehicle franchises already acquired; investors may view this as a meaningful growth opportunity that broadens the company’s addressable market. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
• Positive Sentiment: Analyst commentary remains constructive, with price targets implying notable upside and recent estimate revisions suggesting Wall Street still sees earnings growth potential for CVNA. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
• Positive Sentiment: Several bullish articles argue Carvana’s turnaround is still intact, citing strong revenue growth, expanding margins, and operational efficiencies that could support further upside. Carvana: 40% Growth, Expanding Margins, And More Upside Ahead
• Neutral Sentiment: A director sold 15,000 shares, but the transaction was relatively modest versus the insider’s remaining stake and does not clearly indicate a major change in fundamentals. SEC Form 4 filing for Ira J. Platt
• Negative Sentiment: CarMax’s earnings report and commentary on continued low margins are weighing on sentiment for Carvana, since investors are extrapolating sector-wide pressure onto CVNA. Carvana Stock Falls As CarMax Warns Of Persistent Low Margins
• Negative Sentiment: Some commentary warns that the used-car market is softening and that credit-related risks could hurt margins and financing performance, which is fueling selling pressure in CVNA. CarMax Drops 7% Despite Earnings Beat, Carvana Tumbles 8% on Used-Car Margin, Credit Fears
• Negative Sentiment: Recent articles have also taken a skeptical view of Carvana’s turnaround story, arguing there may be hidden risks behind the bullish narrative. Carvana: The Turnaround Story Has A Hidden Trap

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Argus reduced their price objective on Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wedbush cut their price objective on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $92.00 price objective on shares of Carvana in a research report on Friday, June 12th. Finally, Barclays set a $93.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.14.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $61.97, for a total value of $3,098,600.00. Following the completion of the transaction, the chief operating officer owned 464,620 shares in the company, valued at $28,793,430.64. This trade represents a 9.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 415,812 shares of company stock valued at $29,056,896. 15.19% of the stock is owned by company insiders.

Carvana Trading Down 10.3%

CVNA stock opened at $62.82 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The company’s 50-day simple moving average is $71.47 and its 200 day simple moving average is $75.19. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a market capitalization of $68.91 billion, a PE ratio of 38.21, a price-to-earnings-growth ratio of 11.82 and a beta of 3.45.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. As a group, sell-side analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.