Carvana Co. $CVNA Position Cut by Spyglass Capital Management LLC

Spyglass Capital Management LLC decreased its position in shares of Carvana Co. (NYSE:CVNA) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,391 shares of the company’s stock after selling 13,277 shares during the quarter. Carvana comprises about 3.7% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Spyglass Capital Management LLC’s holdings in Carvana were worth $52,624,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sands Capital Management LLC raised its stake in Carvana by 44.4% during the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock valued at $1,030,798,000 after acquiring an additional 751,019 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new position in Carvana during the 1st quarter worth $29,866,000. Gavilan Investment Partners LLC grew its stake in shares of Carvana by 24.6% in the fourth quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock worth $36,294,000 after purchasing an additional 17,000 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Carvana by 239.6% in the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock worth $93,748,000 after purchasing an additional 156,430 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Carvana by 9.9% during the first quarter. Swiss National Bank now owns 395,180 shares of the company’s stock valued at $124,237,000 after purchasing an additional 35,720 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Up 3.2%

CVNA opened at $66.07 on Wednesday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The stock’s fifty day moving average is $67.01 and its 200-day moving average is $71.21. The company has a market capitalization of $72.47 billion, a PE ratio of 40.19, a P/E/G ratio of 14.37 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its earnings results 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. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, equities analysts predict that Carvana Co. will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Carvana in a research note on Thursday, June 18th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Citizens Jmp raised their target price on shares of Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. BNP Paribas Exane boosted their price target on shares of Carvana from $77.60 to $85.80 in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.65.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total value of $3,427,500.00. Following the transaction, the chief operating officer owned 458,755 shares of the company’s stock, valued at $31,447,655.25. The trade was a 9.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of Carvana stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares in the company, valued at $12,648,260.10. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 396,962 shares of company stock valued at $28,525,088 in the last quarter. 15.19% of the stock is owned by company insiders.

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.