Carvana Co. $CVNA Shares Sold by North Peak Capital Management LLC

North Peak Capital Management LLC cut its stake in shares of Carvana Co. (NYSE:CVNA) by 18.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 390,023 shares of the company’s stock after selling 87,320 shares during the period. Carvana accounts for 14.0% of North Peak Capital Management LLC’s holdings, making the stock its 2nd largest position. North Peak Capital Management LLC owned about 0.18% of Carvana worth $164,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. First Horizon Corp lifted its position in Carvana by 6.4% during the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after acquiring an additional 25 shares during the last quarter. Finivi Inc. lifted its position in Carvana by 4.6% during the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after acquiring an additional 31 shares during the last quarter. HB Wealth Management LLC lifted its position in Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after acquiring an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in Carvana by 1.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after acquiring an additional 31 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Carvana by 4.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after acquiring an additional 32 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CVNA. Gordon Haskett raised their price objective on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. UBS Group restated a “buy” rating and set a $104.00 price objective (up from $97.00) on shares of Carvana in a research report on Thursday, April 30th. BTIG Research reaffirmed a “buy” rating and set a $97.00 target price on shares of Carvana in a report on Friday, June 5th. Evercore raised their target price on shares of Carvana from $78.00 to $80.00 in a report on Tuesday, April 28th. Finally, Barclays set a $93.00 target price on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

Insider Activity

In related news, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total value of $1,016,750.00. Following the transaction, the director directly owned 214,960 shares of the company’s stock, valued at $15,047,200. This trade represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 Carvana stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $68.20, for a total transaction of $1,285,570.00. Following the completion of the transaction, the insider directly owned 292,820 shares in the company, valued at $19,970,324. This trade represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 400,812 shares of company stock valued at $28,039,446. 15.19% of the stock is owned by insiders.

Carvana Stock Performance

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

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. As a group, research analysts predict that Carvana Co. will post 1.58 EPS for the current fiscal 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.