KP Management LLC Reduces Holdings in Carvana Co. (NYSE:CVNA)

KP Management LLC lessened its position in shares of Carvana Co. (NYSE:CVNA) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,000 shares of the company’s stock after selling 2,500 shares during the quarter. KP Management LLC’s holdings in Carvana were worth $1,741,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares during the period. Sylebra Capital LLC purchased a new position in shares of Carvana during the 2nd quarter worth approximately $67,686,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter valued at approximately $63,767,000. Driehaus Capital Management LLC raised its position in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Carvana during the second quarter worth $39,997,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Evercore ISI lifted their target price on Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. DA Davidson increased their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Piper Sandler raised their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Wedbush upped their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $182.29.

Carvana Price Performance

Shares of NYSE CVNA opened at $204.99 on Monday. The stock has a market cap of $41.52 billion, a P/E ratio of 88.83 and a beta of 3.44. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $204.99. The stock has a 50 day moving average of $167.97 and a two-hundred day moving average of $133.56. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. On average, research analysts forecast that Carvana Co. will post 0.29 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $133.41, for a total transaction of $10,005,750.00. Following the completion of the sale, the insider now directly owns 1,565,814 shares of the company’s stock, valued at approximately $208,895,245.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total value of $10,005,750.00. Following the transaction, the insider now directly owns 1,565,814 shares of the company’s stock, valued at approximately $208,895,245.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,880,891 shares of company stock worth $479,638,935 in the last quarter. Company 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.