EntryPoint Capital LLC Lowers Stake in Carvana Co. (NYSE:CVNA)

EntryPoint Capital LLC cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 30.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 879 shares of the company’s stock after selling 381 shares during the period. EntryPoint Capital LLC’s holdings in Carvana were worth $77,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC raised its position in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Carvana by 11.9% during the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. acquired a new position in shares of Carvana during the 4th quarter worth about $29,000. Ameritas Investment Partners Inc. lifted its stake in Carvana by 6.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,294 shares of the company’s stock valued at $905,000 after buying an additional 598 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Carvana by 10.2% in the 4th quarter. Neuberger Berman Group LLC now owns 6,543 shares of the company’s stock valued at $346,000 after buying an additional 606 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Up 7.1 %

NYSE CVNA opened at $132.85 on Friday. The stock has a fifty day simple moving average of $118.47 and a 200-day simple moving average of $89.07. The stock has a market cap of $26.91 billion, a PE ratio of 58.21 and a beta of 3.37. Carvana Co. has a twelve month low of $25.09 and a twelve month high of $147.25.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Research analysts predict that Carvana Co. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVNA shares. Wells Fargo & Company increased their target price on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their target price on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada upped their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI increased their price objective on shares of Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average price target of $105.14.

Insider Buying and Selling

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the transaction, the vice president now directly owns 56,872 shares in the company, valued at $4,874,499.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total value of $428,550.00. Following the completion of the sale, the vice president now directly owns 56,872 shares of the company’s stock, valued at $4,874,499.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.43, for a total value of $9,407,250.00. Following the transaction, the insider now directly owns 2,917,500 shares in the company, valued at approximately $365,942,025. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,551,446 shares of company stock valued at $299,876,431. Company insiders own 17.12% of the company’s stock.

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.