Carvana Co. $CVNA Shares Sold by General Equity Holdings LP

General Equity Holdings LP reduced its stake in Carvana Co. (NYSE:CVNA) by 41.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,080 shares of the company’s stock after selling 165,291 shares during the period. Carvana makes up approximately 60.2% of General Equity Holdings LP’s investment portfolio, making the stock its biggest position. General Equity Holdings LP’s holdings in Carvana were worth $79,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hilltop National Bank acquired a new position in Carvana in the 2nd quarter valued at $25,000. Brooklyn Investment Group increased its position in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares during the period. SJS Investment Consulting Inc. increased its position in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana in the second quarter valued at about $38,000. Finally, LRI Investments LLC bought a new stake in Carvana during the second quarter worth about $42,000. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group initiated coverage on shares of Carvana in a report on Monday, December 1st. They issued a “buy” rating and a $450.00 target price on the stock. Wedbush raised shares of Carvana from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $380.00 to $400.00 in a research note on Monday, November 24th. Stephens restated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research report on Tuesday, September 23rd. Morgan Stanley set a $450.00 target price on Carvana in a research note on Monday, October 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 target price on shares of Carvana in a report on Monday, November 17th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $438.76.

Carvana Stock Performance

NYSE CVNA opened at $455.95 on Friday. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $485.33. The stock has a market cap of $99.19 billion, a PE ratio of 104.10, a PEG ratio of 1.65 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. The firm’s fifty day moving average price is $353.83 and its two-hundred day moving average price is $351.18.

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

Insider Activity at Carvana

In related news, insider Thomas Taira sold 10,000 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total transaction of $4,750,000.00. Following the sale, the insider directly owned 69,880 shares in the company, valued at $33,193,000. This trade represents a 12.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Maroone sold 30,928 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the transaction, the director owned 143,573 shares of the company’s stock, valued at approximately $57,478,014.82. This trade represents a 17.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 624,332 shares of company stock valued at $251,466,542. Corporate insiders own 17.12% of the company’s stock.

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.