Carvana Co. (NYSE:CVNA) is Steadview Capital Management LLC’s 3rd Largest Position

Steadview Capital Management LLC boosted its stake in Carvana Co. (NYSE:CVNA) by 15.6% in the fourth quarter, Holdings Channel reports. The fund owned 876,905 shares of the company’s stock after buying an additional 118,500 shares during the quarter. Carvana makes up about 15.9% of Steadview Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Steadview Capital Management LLC’s holdings in Carvana were worth $46,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVNA. Blue Trust Inc. acquired a new position in shares of Carvana in the 4th quarter valued at approximately $29,000. Vanguard Group Inc. raised its position in shares of Carvana by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Carvana in the 3rd quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. raised its position in shares of Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Carvana in the 3rd quarter valued at approximately $22,906,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVNA. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and upped their target price for the company from $70.00 to $130.00 in a research report on Thursday. Morgan Stanley upped their price target on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Wedbush upped their price target on Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Evercore ISI dropped their price target on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.44.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $5.17 during midday trading on Friday, reaching $121.67. The company had a trading volume of 8,528,363 shares, compared to its average volume of 5,397,261. Carvana Co. has a 1-year low of $6.92 and a 1-year high of $124.20. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. The company has a fifty day simple moving average of $81.81 and a two-hundred day simple moving average of $55.88.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business earned ($0.97) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Analysts expect that Carvana Co. will post -3.32 EPS for the current year.

Insider Activity at Carvana

In related news, insider Ryan S. Keeton sold 8,250 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total value of $953,287.50. Following the completion of the transaction, the insider now owns 187,256 shares in the company, valued at approximately $21,637,430.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan S. Keeton sold 8,250 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total value of $953,287.50. Following the completion of the sale, the insider now directly owns 187,256 shares of the company’s stock, valued at approximately $21,637,430.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $86.76, for a total value of $4,771,800.00. Following the completion of the sale, the chief financial officer now directly owns 178,156 shares of the company’s stock, valued at $15,456,814.56. The disclosure for this sale can be found here. Insiders sold 442,233 shares of company stock worth $38,200,169 in the last quarter. 17.12% of the stock is owned by company insiders.

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.