Steadview Capital Management LLC Has $46.42 Million Stock Position in Carvana Co. (NYSE:CVNA)

Steadview Capital Management LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 876,905 shares of the company’s stock after acquiring an additional 118,500 shares during the period. Carvana accounts for approximately 15.9% of Steadview Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Steadview Capital Management LLC owned 0.44% of Carvana worth $46,423,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its stake in Carvana by 78.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 28,558 shares of the company’s stock worth $1,512,000 after purchasing an additional 12,559 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Carvana by 37.1% in the fourth quarter. Victory Capital Management Inc. now owns 12,680 shares of the company’s stock worth $671,000 after purchasing an additional 3,430 shares during the last quarter. Waycross Partners LLC bought a new stake in Carvana in the fourth quarter worth about $529,000. Van ECK Associates Corp bought a new stake in Carvana in the fourth quarter worth about $853,000. Finally, Russell Investments Group Ltd. lifted its stake in Carvana by 112.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock worth $90,000 after purchasing an additional 901 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 4.4 %

CVNA stock traded up $5.17 during mid-day trading on Friday, reaching $121.67. The company’s stock had a trading volume of 8,528,363 shares, compared to its average volume of 5,397,261. The stock has a market cap of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28. Carvana Co. has a fifty-two week low of $6.92 and a fifty-two week high of $124.20. The company’s 50 day moving average is $81.81 and its two-hundred day moving average is $55.88.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on CVNA shares. Morgan Stanley lifted their price target on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $130.00 in a research note on Thursday. Jefferies Financial Group raised shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price target for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a research note on Thursday. Finally, Robert W. Baird lifted their price target on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.44.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the sale, the chief financial officer now owns 178,156 shares in the company, valued at approximately $15,456,814.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Ernest C. Garcia III sold 18,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total transaction of $2,103,944.00. Following the completion of the sale, the chief executive officer now owns 896,449 shares in the company, valued at approximately $104,203,231.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the sale, the chief financial officer now owns 178,156 shares of the company’s stock, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 442,233 shares of company stock worth $38,200,169. Insiders own 17.12% of the company’s stock.

About Carvana

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.