Steadview Capital Management LLC Has $116.78 Million Stock Position in Carvana Co. $CVNA

Steadview Capital Management LLC trimmed its stake in Carvana Co. (NYSE:CVNA) by 30.2% during the third quarter, Holdings Channel reports. The fund owned 309,560 shares of the company’s stock after selling 133,975 shares during the quarter. Carvana accounts for 16.7% of Steadview Capital Management LLC’s holdings, making the stock its 3rd largest position. Steadview Capital Management LLC’s holdings in Carvana were worth $116,778,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hilltop National Bank bought a new position in shares of Carvana in the second quarter valued at approximately $25,000. ORG Partners LLC grew its stake in Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Carvana in the 3rd quarter worth $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana during the 2nd quarter worth $38,000. Finally, LRI Investments LLC bought a new stake in Carvana during the second quarter valued at about $42,000. Institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVNA. JPMorgan Chase & Co. lifted their price objective on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Wall Street Zen lowered Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Morgan Stanley reiterated an “overweight” rating on shares of Carvana in a report on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $500.00 price objective on shares of Carvana in a research note on Monday, November 17th. Finally, BTIG Research upped their target price on shares of Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $468.59.

Carvana Trading Up 4.9%

Shares of Carvana stock opened at $477.44 on Friday. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $485.33. The firm has a market capitalization of $103.86 billion, a PE ratio of 109.00, a price-to-earnings-growth ratio of 1.09 and a beta of 3.54. 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 company’s fifty day moving average price is $416.97 and its two-hundred day moving average price is $375.02.

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

Insider Activity at Carvana

In related news, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $419.48, for a total value of $419,480.00. Following the sale, the vice president owned 38,744 shares of the company’s stock, valued at $16,252,333.12. The trade was a 2.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $403.02, for a total value of $5,138,505.00. Following the transaction, the chief financial officer owned 204,036 shares of the company’s stock, valued at $82,230,588.72. This represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 467,626 shares of company stock valued at $192,090,109. Corporate insiders own 17.12% of the company’s stock.

Carvana Profile

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.