Coronation Fund Managers 13F: New $1.7M Stake in Carvana (CVNA)
Key Points
- Coronation Fund Managers has taken a new position in Carvana Co., acquiring 27,449 shares worth about $1.72 million.
- The stock recently traded at $59.24, which is about equal to the closing price of $59.23 on the filing date.
- Carvana Co. has shown strong revenue growth of 52.4% year-over-year, with a net margin of 6.3%.
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Coronation Fund Managers opened a new position in Carvana Co. (CVNA), acquiring 27,449 shares valued at approximately $1.72 million in a filing on October 27, 2026. This move marks the fund's first stake in the company, indicating a new interest in Carvana as it navigates the used car market.
CVNA
Carvana Co.
Where Carvana Fits in Coronation Fund Managers' Portfolio
Carvana now represents 0.1% of Coronation Fund Managers' total reported value of about $1.75 billion, ranking 35th among the fund's 49 positions. This new stake reflects a strategic entry into a company that has seen significant market fluctuations.
Other Institutional Activity in Carvana Co.
Royal Fund Management recently increased its stake in Carvana by 35.3%, bringing its total to 94,711 shares valued at approximately $5.59 million. Meanwhile, Amanah Holdings Trust exited its position, selling all 91,462 shares it held. D1 Capital Partners L.P. also maintains a significant holding of 3.34 million shares valued at roughly $213 million.
Carvana Co. Stock Up 2.5%
As of October 28, 2026, Carvana shares traded recently around $59.24, which is about equal to the closing price of $59.23 on October 27. The stock is currently below both its 50-day moving average and its 200-day moving average, indicating some challenges in price momentum. Additionally, shares are down about 39.2% from their 52-week high of $97.38.
Recent Earnings
Carvana reported trailing twelve-month revenue of approximately $25.06 billion, with an earnings per share (EPS) of $1.85. The company will announce its next earnings on October 28, 2026, which could provide further insights into its financial performance and future outlook.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 target raises vs 3 cuts.
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EPS & revenue
EPS beat estimates by 12.0%. Revenue beat estimates by 3.8%.
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Profit surprise
EBITDA met by 2 percent. Operating income beat by 2 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
7 target raises, 3 target cuts.
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Earnings quality
Gross margin down 1.2 points. Negative free cash flow.
Earnings Call Summary
Carvana sold a record 187,000 cars in the quarter, up 40 percent year over year, and generated $6.43 billion in revenue, up 52 percent. The recon team fixed labor efficiency issues by building new tools and centralizing planning. The company sees the wholesale-to-retail price spread as temporary and expects it to normalize over the next few months.
Guidance Management expects all-time record retail units sold and adjusted EBITDA in the second quarter. The company still targets 13.5 percent adjusted EBITDA margin by 2030 to 2035 while selling 3 million cars per year. Full year 2026 growth expected to be significant on both metrics.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Carvana Co.
Several insiders at Carvana have sold shares recently. Thomas Taira, an officer, sold 16,789 shares on September 14, 2026, while Chief Financial Officer Mark W. Jenkins sold 63,750 shares on October 1, 2026. These transactions occurred prior to the recent fund activity and may reflect individual strategies rather than the broader company outlook.
Analysts Set New Price Targets
On October 6, 2026, Stephens & Co. maintained an Overweight rating on Carvana with a price target of $83.00, down from $91.50. Similarly, Barclays also maintained its Overweight rating but lowered its target to $80.00 from $93.00. Overall, Carvana holds a consensus recommendation of "buy" among analysts, with a mean price target of approximately $81.95.
About Carvana Co.
Carvana Co. operates an online platform for buying and selling used cars, offering services that include vehicle acquisition, inspection, financing, and logistics. The company has a significant presence in the used car market, which has been volatile yet promising for growth.
Bottom Line
Investors will be watching Carvana closely as it prepares for its upcoming earnings report on October 28, 2026. Coronation Fund Managers' new position signals growing institutional interest, while ongoing analyst ratings and insider activity provide additional context for the company's outlook.
Related Filing Alerts
Source: Coronation Fund Managers's 13F filing on $CVNA (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts