Southpoint Capital Advisors LP Decreases Stock Holdings in Carvana Co. (NYSE:CVNA)

Southpoint Capital Advisors LP lowered its stake in Carvana Co. (NYSE:CVNA) by 10.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 625,000 shares of the company’s stock after selling 75,000 shares during the quarter. Carvana makes up 2.7% of Southpoint Capital Advisors LP’s portfolio, making the stock its 13th biggest holding. Southpoint Capital Advisors LP’s holdings in Carvana were worth $164,000,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Lombard Odier Asset Management USA Corp bought a new stake in Carvana in the first quarter valued at $388,000. Point72 Asset Management L.P. boosted its holdings in shares of Carvana by 10.5% during the 1st quarter. Point72 Asset Management L.P. now owns 185,851 shares of the company’s stock valued at $48,767,000 after buying an additional 17,595 shares in the last quarter. Eaton Vance Management boosted its holdings in shares of Carvana by 85.7% during the 1st quarter. Eaton Vance Management now owns 5,010 shares of the company’s stock valued at $1,315,000 after buying an additional 2,312 shares in the last quarter. Amundi Asset Management US Inc. boosted its holdings in shares of Carvana by 23.5% during the 1st quarter. Amundi Asset Management US Inc. now owns 28,882 shares of the company’s stock valued at $7,577,000 after buying an additional 5,494 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Carvana during the 1st quarter valued at $134,000. Institutional investors and hedge funds own 54.02% of the company’s stock.

Shares of NYSE CVNA traded up $2.94 during midday trading on Thursday, reaching $334.64. 38,639 shares of the stock traded hands, compared to its average volume of 1,313,218. The company has a quick ratio of 1.71, a current ratio of 3.78 and a debt-to-equity ratio of 3.13. The company has a market capitalization of $57.69 billion, a PE ratio of -161.96 and a beta of 2.40. Carvana Co. has a one year low of $142.56 and a one year high of $332.50. The stock has a 50 day moving average of $285.77.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, May 6th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.24. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $1.89 billion. Carvana had a negative return on equity of 13.10% and a negative net margin of 2.19%. The company’s quarterly revenue was up 104.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.18) EPS. On average, equities research analysts forecast that Carvana Co. will post -1.59 earnings per share for the current fiscal year.

In related news, insider Ryan S. Keeton sold 10,000 shares of the stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $312.13, for a total transaction of $3,121,300.00. Following the sale, the insider now owns 41,697 shares in the company, valued at approximately $13,014,884.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 25,541 shares of the stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $325.29, for a total value of $8,308,231.89. The disclosure for this sale can be found here. Insiders have sold a total of 1,474,947 shares of company stock valued at $423,578,210 over the last quarter. Corporate insiders own 10.70% of the company’s stock.

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Carvana from an “overweight” rating to a “neutral” rating and set a $325.00 target price on the stock. in a report on Wednesday, June 23rd. Royal Bank of Canada assumed coverage on shares of Carvana in a report on Wednesday, May 26th. They set an “outperform” rating and a $300.00 target price on the stock. Robert W. Baird boosted their target price on shares of Carvana from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, June 17th. Evercore ISI restated a “hold” rating on shares of Carvana in a report on Sunday, May 9th. Finally, Jefferies Financial Group upped their price target on shares of Carvana from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, June 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $300.88.

About Carvana

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.

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Institutional Ownership by Quarter for Carvana (NYSE:CVNA)

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