Carvana Co. $CVNA is Steadview Capital Management LLC’s 2nd Largest Position

Steadview Capital Management LLC reduced its holdings in Carvana Co. (NYSE:CVNA) by 13.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 443,535 shares of the company’s stock after selling 71,720 shares during the period. Carvana makes up approximately 21.6% of Steadview Capital Management LLC’s holdings, making the stock its 2nd largest holding. Steadview Capital Management LLC’s holdings in Carvana were worth $149,454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Carvana by 1.8% during the second quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after buying an additional 229,387 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Carvana by 11.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after buying an additional 221,161 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Carvana by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 692,725 shares of the company’s stock valued at $144,835,000 after buying an additional 9,694 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Carvana by 5.4% during the 1st quarter. Northern Trust Corp now owns 685,864 shares of the company’s stock worth $143,400,000 after buying an additional 35,168 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $324.57, for a total value of $3,245,700.00. Following the sale, the chief operating officer owned 101,977 shares of the company’s stock, valued at $33,098,674.89. This trade represents a 8.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory B. Sullivan sold 2,500 shares of Carvana stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $340.00, for a total transaction of $850,000.00. Following the completion of the sale, the director owned 39,428 shares in the company, valued at approximately $13,405,520. This represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 406,452 shares of company stock valued at $147,936,506 over the last three months. 16.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $460.00 target price on shares of Carvana in a research note on Thursday, October 30th. Bank of America lowered their price target on shares of Carvana from $405.00 to $385.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Evercore ISI cut their price target 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. Stephens reaffirmed an “overweight” rating and set a $440.00 price target on shares of Carvana in a research report on Tuesday, September 23rd. Finally, Piper Sandler lifted their target price on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Fifteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.16.

Carvana Stock Performance

Shares of NYSE CVNA opened at $317.78 on Wednesday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The firm’s 50-day moving average price is $349.86 and its two-hundred day moving average price is $339.21. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33. The stock has a market capitalization of $69.13 billion, a P/E ratio of 72.55, a P/E/G ratio of 1.17 and a beta of 3.50.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana 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.