Carvana Co. (NYSE:CVNA) is Divisadero Street Capital Management LP’s 7th Largest Position

Divisadero Street Capital Management LP reduced its stake in Carvana Co. (NYSE:CVNA) by 10.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 249,772 shares of the company’s stock after selling 30,035 shares during the quarter. Carvana accounts for 4.9% of Divisadero Street Capital Management LP’s investment portfolio, making the stock its 7th biggest holding. Divisadero Street Capital Management LP owned about 0.12% of Carvana worth $32,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. CWM LLC lifted its position in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the period. Great Valley Advisor Group Inc. raised its stake in shares of Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after buying an additional 182 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the period. American Century Companies Inc. boosted its stake in shares of Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after buying an additional 241 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Carvana in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 5.6 %

Shares of CVNA stock opened at $170.72 on Friday. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $171.67. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 74.88 and a beta of 3.43. The firm has a 50-day moving average price of $141.54 and a 200 day moving average price of $114.04. 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Research analysts forecast that Carvana Co. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CVNA. Evercore ISI raised their target price on Carvana from $142.00 to $157.00 and gave the company an “in-line” rating in a report on Monday. DA Davidson raised their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Piper Sandler upped their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and lifted their price target for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Robert W. Baird assumed coverage on Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $153.88.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Monday, June 24th. The stock was sold at an average price of $115.77, for a total value of $6,946,200.00. Following the completion of the sale, the insider now owns 937,500 shares of the company’s stock, valued at $108,534,375. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $115.77, for a total transaction of $6,946,200.00. Following the transaction, the insider now directly owns 937,500 shares in the company, valued at approximately $108,534,375. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the sale, the insider now owns 690,814 shares of the company’s stock, valued at $102,710,225.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,521,866 shares of company stock valued at $347,083,884 in the last quarter. 17.12% of the stock is currently owned by company insiders.

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.