General Equity Holdings LP Cuts Position in Carvana Co. $CVNA

General Equity Holdings LP decreased its holdings in shares of Carvana Co. (NYSE:CVNA) by 41.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,080 shares of the company’s stock after selling 165,291 shares during the quarter. Carvana makes up about 60.2% of General Equity Holdings LP’s investment portfolio, making the stock its biggest holding. General Equity Holdings LP owned 0.11% of Carvana worth $79,550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hilltop National Bank bought a new position in shares of Carvana in the 2nd quarter valued at about $25,000. Brooklyn Investment Group raised its holdings in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana during the second quarter valued at approximately $38,000. Finally, LRI Investments LLC bought a new position in Carvana in the second quarter valued at approximately $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 40,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total value of $17,580,000.00. Following the completion of the sale, the chief operating officer directly owned 100,758 shares in the company, valued at $44,283,141. The trade was a 28.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel J. Gill sold 80,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $35,160,000.00. Following the completion of the transaction, the insider directly owned 191,106 shares in the company, valued at approximately $83,991,087. This represents a 29.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 624,332 shares of company stock valued at $251,466,542 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVNA. JPMorgan Chase & Co. upped their price objective on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Citigroup boosted their target price on shares of Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. DA Davidson set a $360.00 price target on shares of Carvana in a research note on Thursday, October 30th. Finally, Wedbush upgraded shares of Carvana from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research note on Monday, November 24th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $438.76.

Carvana Stock Performance

Shares of CVNA stock opened at $455.95 on Friday. The company has a market capitalization of $99.19 billion, a price-to-earnings ratio of 104.10, a PEG ratio of 1.65 and a beta of 3.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company has a 50-day simple moving average of $353.83 and a 200 day simple moving average of $351.18. Carvana Co. has a 52 week low of $148.25 and a 52 week high of $485.33.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. On average, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Carvana Profile

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.