Carvana Co. $CVNA Stock Holdings Trimmed by Lingotto Investment Management LLP

Lingotto Investment Management LLP cut its stake in Carvana Co. (NYSE:CVNA) by 6.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,765,251 shares of the company’s stock after selling 280,045 shares during the period. Carvana makes up about 27.0% of Lingotto Investment Management LLP’s holdings, making the stock its largest holding. Lingotto Investment Management LLP owned approximately 1.75% of Carvana worth $1,268,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in 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 valued at $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after acquiring an additional 1,109,476 shares during the period. Sands Capital Management LLC boosted its position in shares of Carvana by 1,374.3% during the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock valued at $303,677,000 after acquiring an additional 840,096 shares during the last quarter. Norges Bank purchased a new stake in shares of Carvana in the second quarter valued at about $259,468,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Carvana in the second quarter valued at about $193,091,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

CVNA has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research note on Sunday, October 19th. Barclays began coverage on shares of Carvana in a research report on Tuesday, November 11th. They set an “overweight” rating and a $390.00 price target on the stock. Zacks Research cut Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $450.00 price target on shares of Carvana in a research note on Thursday, October 30th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $422.10.

Insider Activity at Carvana

In other news, Director Ira J. Platt sold 14,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the sale, the director owned 7,231 shares of the company’s stock, valued at approximately $2,741,561.34. This represents a 65.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider directly owned 80,832 shares of the company’s stock, valued at approximately $32,332,800. The trade was a 23.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 432,380 shares of company stock worth $160,355,855 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Carvana Stock Up 1.0%

Carvana stock opened at $399.10 on Friday. The company has a market capitalization of $86.82 billion, a PE ratio of 91.12, a price-to-earnings-growth ratio of 1.43 and a beta of 3.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The firm has a 50 day moving average price of $345.91 and a 200 day moving average price of $344.74.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. Research analysts expect 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.