North Peak Capital Management LLC Trims Stock Position in Carvana Co. $CVNA

North Peak Capital Management LLC decreased its holdings in Carvana Co. (NYSE:CVNA) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 390,023 shares of the company’s stock after selling 87,320 shares during the period. Carvana accounts for approximately 14.0% of North Peak Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. North Peak Capital Management LLC’s holdings in Carvana were worth $164,598,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Carvana in the fourth quarter worth $29,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana in the fourth quarter worth $29,000. Salomon & Ludwin LLC grew its stake in shares of Carvana by 112.5% in the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Carvana in the third quarter worth $38,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Carvana in the fourth quarter worth $42,000. Institutional investors own 56.71% of the company’s stock.

Analysts Set New Price Targets

CVNA has been the topic of a number of research analyst reports. Wedbush cut their price target on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. BNP Paribas Exane upped their price target on shares of Carvana from $77.60 to $85.80 in a research report on Thursday, April 30th. Evercore upped their price target on shares of Carvana from $78.00 to $80.00 in a research report on Tuesday, April 28th. Argus cut their price target on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Finally, Morgan Stanley upped their price target on shares of Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two 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 stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Insider Activity at Carvana

In other news, Director J Danforth Quayle sold 14,525 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the transaction, the director owned 214,960 shares in the company, valued at approximately $15,047,200. This represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 18,850 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $68.20, for a total transaction of $1,285,570.00. Following the completion of the sale, the insider owned 292,820 shares in the company, valued at $19,970,324. This represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 400,812 shares of company stock worth $28,039,446 over the last three months. 15.19% of the stock is currently owned by company insiders.

Carvana Price Performance

Shares of NYSE CVNA opened at $64.09 on Friday. The firm’s 50-day moving average price is $71.20 and its 200-day moving average price is $75.23. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a market capitalization of $70.30 billion, a P/E ratio of 38.98, a P/E/G ratio of 10.82 and a beta of 3.45. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating 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 firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Equities research analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current fiscal year.

About Carvana

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.