Alta Park Capital LP Has $19.17 Million Stock Holdings in Carvana Co. $CVNA

Alta Park Capital LP decreased its holdings in Carvana Co. (NYSE:CVNA) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,412 shares of the company’s stock after selling 14,892 shares during the quarter. Carvana accounts for approximately 2.3% of Alta Park Capital LP’s holdings, making the stock its 21st biggest holding. Alta Park Capital LP’s holdings in Carvana were worth $19,165,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana during the 4th quarter worth about $29,000. Motiv8 Investments LLC acquired a new stake in shares of Carvana during the 4th quarter worth about $33,000. Salomon & Ludwin LLC increased its position in shares of Carvana by 112.5% during the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Carvana during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

More Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana is expanding into new vehicle sales, with seven new-vehicle franchises already acquired; investors may view this as a meaningful growth opportunity that broadens the company’s addressable market. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
• Positive Sentiment: Analyst commentary remains constructive, with price targets implying notable upside and recent estimate revisions suggesting Wall Street still sees earnings growth potential for CVNA. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
• Positive Sentiment: Several bullish articles argue Carvana’s turnaround is still intact, citing strong revenue growth, expanding margins, and operational efficiencies that could support further upside. Carvana: 40% Growth, Expanding Margins, And More Upside Ahead
• Neutral Sentiment: A director sold 15,000 shares, but the transaction was relatively modest versus the insider’s remaining stake and does not clearly indicate a major change in fundamentals. SEC Form 4 filing for Ira J. Platt
• Negative Sentiment: CarMax’s earnings report and commentary on continued low margins are weighing on sentiment for Carvana, since investors are extrapolating sector-wide pressure onto CVNA. Carvana Stock Falls As CarMax Warns Of Persistent Low Margins
• Negative Sentiment: Some commentary warns that the used-car market is softening and that credit-related risks could hurt margins and financing performance, which is fueling selling pressure in CVNA. CarMax Drops 7% Despite Earnings Beat, Carvana Tumbles 8% on Used-Car Margin, Credit Fears
• Negative Sentiment: Recent articles have also taken a skeptical view of Carvana’s turnaround story, arguing there may be hidden risks behind the bullish narrative. Carvana: The Turnaround Story Has A Hidden Trap

Insider Activity at Carvana

In other news, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at $12,648,260.10. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Taira sold 5,597 shares of Carvana stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $67.15, for a total transaction of $375,838.55. Following the sale, the insider owned 315,075 shares of the company’s stock, valued at approximately $21,157,286.25. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 415,812 shares of company stock worth $29,056,896 over the last 90 days. Insiders own 15.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group reiterated a “buy” rating and set a $104.00 target price (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $92.00 price objective on shares of Carvana in a research report on Friday, June 12th. Wedbush lowered their price objective on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. BNP Paribas Exane raised their price objective on shares of Carvana from $77.60 to $85.80 in a research report on Thursday, April 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of Carvana in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Carvana Stock Down 10.3%

Shares of NYSE:CVNA opened at $62.82 on Thursday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a 50 day moving average of $71.47 and a 200-day moving average of $75.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The stock has a market cap of $68.91 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 11.82 and a beta of 3.45.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. On average, sell-side analysts forecast that Carvana Co. will post 1.58 earnings per share for the current year.

Carvana Company 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.