GatePass Capital LLC Has $3.21 Million Stake in Carvana Co. $CVNA

GatePass Capital LLC lowered its position in Carvana Co. (NYSE:CVNA) by 43.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,504 shares of the company’s stock after selling 6,502 shares during the period. Carvana accounts for about 1.9% of GatePass Capital LLC’s holdings, making the stock its 12th biggest position. GatePass Capital LLC’s holdings in Carvana were worth $3,208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its stake in shares of Carvana by 1,950.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock worth $37,467,000 after acquiring an additional 105,768 shares during the period. Hudson Bay Capital Management LP lifted its holdings in Carvana by 158.0% during the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after purchasing an additional 10,090 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Carvana by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock worth $76,662,000 after purchasing an additional 24,129 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Carvana in the second quarter valued at approximately $183,102,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Carvana during the 2nd quarter valued at approximately $6,596,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

CVNA stock opened at $443.34 on Friday. The firm has a 50 day simple moving average of $406.54 and a two-hundred day simple moving average of $372.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The stock has a market cap of $96.45 billion, a PE ratio of 101.22, a P/E/G ratio of 1.06 and a beta of 3.54. Carvana Co. has a one year low of $148.25 and a one year high of $485.33.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Argus assumed coverage on shares of Carvana in a report on Monday, December 15th. They set a “buy” rating and a $500.00 target price on the stock. Stephens boosted their price objective on Carvana from $454.00 to $519.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $460.00 target price on shares of Carvana in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a research report on Monday, December 29th. Finally, Jefferies Financial Group increased their price target on shares of Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $465.64.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 40,000 shares of Carvana stock in a transaction on Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $17,580,000.00. Following the transaction, the chief operating officer owned 100,758 shares in the company, valued at $44,283,141. This trade represents a 28.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Taira sold 30,952 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $435.96, for a total transaction of $13,493,833.92. Following the sale, the insider owned 69,880 shares of the company’s stock, valued at approximately $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 467,626 shares of company stock worth $192,090,109 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

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.