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CVNA
LONGINSIDER BUYINSIDER SELLCARVANA CO
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
Funds
6
Score
8.50
vs SPY
+0.5%
Stock return (since Q-end)
+20.2%
SPY return (since Q-end)
+19.7%
Current price
$75.59
Days to cover (short int.)
6.0d↓-6.5%
as of 2026-07-31
News Summary
NegativeCarvana delivered record Q1 and Q2 results with 40%+ YoY unit growth and $405M-$513M quarterly net income, but issued disappointing full-year 2026 guidance ($2.7-3.0B adjusted EBITDA) well below analyst expectations ($3.0-4.45B), causing a 19% post-earnings stock plunge. Margin compression (200 bps contraction in Q2) and declining unit economics (GPU down $455) indicate profitability headwinds despite strong volume growth.
Red flags
- •Full-year 2026 adjusted EBITDA guidance of $2.7-3.0B significantly below consensus expectations of $3.0-4.45B from major analysts
- •Adjusted EBITDA margin contracted 200 bps in Q2 to 10.4% despite record unit volumes, signaling deteriorating unit economics
- •Gross profit per unit (GPU) declined $455 YoY, indicating pricing pressure and/or rising costs
- •Q3-Q4 2026 implied adjusted EBITDA of ~$705M per quarter falls below Q2's $769M despite company's expectations of higher Q3 volumes
- •Ongoing short-seller allegations regarding related-party transactions with DriveTime and earnings overstatement by ~$1B in 2023-2024 (unresolved)
- •BofA downgrade (Buy to Neutral, April 2026) citing macroeconomic headwinds pressuring lower-income consumer segment
Funds Buying (6)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Viking Global | Andreas Halvorsen | 2.8M | +1.7M | $874M | 2.4% | +162% | Existing |
| Dragoneer | Marc Stad | 1.3M | +273K | $394M | 13.1% | +28% | Existing |
| Durable Capital Partners | Henry Ellenbogen | 996K | +71K | $313M | 3.2% | +8% | Existing |
| Sachem Head Capital | Scott Ferguson | 790K | +165K | $248M | 6.0% | +26% | Existing |
| D1 Capital | Dan Sundheim | 668K | +668K | $210M | 1.9% | — | NEW |
| Point72 | Steve Cohen | 215K | +206K | $68M | 0.1% | >+999% | Existing |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where CVNA ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
Dragoneer
position #4 of this fund's book
- 1NVIDIA CORPORATION$650M
- 2COUPANG INC$526M
- 3META PLATFORMS INC$408M
- 4CARVANA CO$394M
- 5GLOBAL E ONLINE LTD$343M
- 6BLOCK INC$176M
- 7SAILPOINT INC$106M
Sachem Head Capital
position #8 of this fund's book
- 5Dicks Sporting Goods Inc$318M
- 6Twilio Inc$289M
- 7Performance Food Group Co$287M
- 8Carvana Co$248M
- 9Weatherford Intl PLC$239M
- 10Icon PLC$233M
- 11Gildan Activewear Inc$230M
Durable Capital Partners
position #9 of this fund's book
- 6XPO INC$571M
- 7FERGUSON ENTERPRISES INC$511M
- 8MEDLINE INC$323M
- 9CARVANA CO$313M
- 10CLEAN HARBORS INC$301M
- 11UL SOLUTIONS INC$282M
- 12ROCKET COS INC$275M
Viking Global
position #12 of this fund's book
- 9TESLA INC$927M
- 10APPLE INC$912M
- 11BRIDGEBIO PHARMA INC$879M
- 12CARVANA CO$874M
- 13MICROSOFT CORP$855M
- 14THERMO FISHER SCIENTIFIC INC$820M
- 15JPMORGAN CHASE & CO$795M
D1 Capital
position #26 of this fund's book
- 23SCHWAB CHARLES CORP$222M
- 24COUPANG INC$219M
- 25DOORDASH INC$216M
- 26CARVANA CO$210M
- 27CAPITAL ONE FINL CORP$204M
- 28MARTIN MARIETTA MATLS INC$190M
- 29SPOTIFY TECHNOLOGY S A$165M
Values are quarter-end position sizes. Shown only for funds where CVNA ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 9 | 12.65 | +6.5% |
| Q1 2026 | LONG | 6 | 8.50 | +0.5% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| JENKINS MARK W. | Chief Financial Officer | SELL | 8K | $63.17 | $0.50M | 2026-08-03 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 6K | $65.81 | $0.37M | 2026-08-03 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 16K | $65.06 | $1.04M | 2026-08-03 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 22K | $64.14 | $1.42M | 2026-08-03 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 6K | $63.18 | $0.40M | 2026-08-03 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 520 | $65.82 | $0.03M | 2026-08-03 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 1K | $65.14 | $0.09M | 2026-08-03 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 2K | $64.22 | $0.15M | 2026-08-03 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 760 | $63.19 | $0.05M | 2026-08-03 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 9K | $65.75 | $0.57M | 2026-08-03 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 23K | $64.93 | $1.49M | 2026-08-03 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 24K | $64.08 | $1.56M | 2026-08-03 | ↗ |
| MAROONE MICHAEL E | — | BUY | 4K | $62.40 | $0.24M | 2026-07-31 | ↗ |
| MAROONE MICHAEL E | — | BUY | 21K | $61.69 | $1.30M | 2026-07-31 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 5K | $67.49 | $0.34M | 2026-07-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 4K | $66.06 | $0.24M | 2026-07-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 3K | $65.23 | $0.17M | 2026-07-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 16K | $70.43 | $1.10M | 2026-07-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 10K | $69.22 | $0.68M | 2026-07-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 21K | $68.14 | $1.44M | 2026-07-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 6K | $67.49 | $0.40M | 2026-07-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 5K | $66.07 | $0.30M | 2026-07-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 7K | $65.18 | $0.44M | 2026-07-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 13K | $70.44 | $0.91M | 2026-07-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 18K | $68.14 | $1.20M | 2026-07-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 1K | $67.81 | $0.09M | 2026-07-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 360 | $66.09 | $0.02M | 2026-07-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 280 | $65.13 | $0.02M | 2026-07-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 8K | $69.22 | $0.57M | 2026-07-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 1K | $70.52 | $0.08M | 2026-07-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 600 | $69.69 | $0.04M | 2026-07-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 1K | $68.47 | $0.09M | 2026-07-01 | ↗ |
| PLATT IRA J. | — | SELL | 8K | $68.00 | $0.51M | 2026-06-15 | ↗ |
| PLATT IRA J. | — | SELL | 8K | $67.65 | $0.51M | 2026-06-15 | ↗ |
| QUAYLE J DANFORTH | — | SELL | 15K | $70.00 | $1.02M | 2026-06-10 | ↗ |
| Taira Thomas | President, Special Projects | SELL | 6K | $67.15 | $0.38M | 2026-06-08 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 2K | $71.25 | $0.13M | 2026-06-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 19K | $69.72 | $1.33M | 2026-06-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 29K | $70.78 | $2.06M | 2026-06-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 24K | $69.72 | $1.69M | 2026-06-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 37K | $70.78 | $2.62M | 2026-06-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 3K | $71.28 | $0.18M | 2026-06-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 2K | $69.76 | $0.14M | 2026-06-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 3K | $70.84 | $0.20M | 2026-06-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 120 | $71.59 | $0.01M | 2026-06-01 | ↗ |
| Taira Thomas | President, Special Projects | SELL | 1K | $80.63 | $0.09M | 2026-05-08 | ↗ |
| Taira Thomas | President, Special Projects | SELL | 4K | $79.80 | $0.35M | 2026-05-08 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 560 | $387.09 | $0.22M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 600 | $386.00 | $0.23M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 404 | $385.02 | $0.16M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 520 | $383.73 | $0.20M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 1K | $382.64 | $0.43M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 748 | $381.68 | $0.29M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 1K | $380.69 | $0.47M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 1K | $379.68 | $0.44M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 591 | $378.78 | $0.22M | 2026-05-01 | ↗ |
| Palmer Stephen R | Vice President of Accounting | SELL | 1K | $395.32 | $0.40M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 40 | $400.04 | $0.02M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 40 | $398.05 | $0.02M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 120 | $397.06 | $0.05M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 3K | $395.33 | $1.10M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 200 | $394.55 | $0.08M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 160 | $393.44 | $0.06M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 240 | $392.35 | $0.09M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 520 | $391.35 | $0.20M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 722 | $390.33 | $0.28M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 519 | $389.17 | $0.20M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 440 | $388.34 | $0.17M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 441 | $387.23 | $0.17M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 599 | $386.17 | $0.23M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 558 | $385.21 | $0.21M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 480 | $383.70 | $0.18M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 1K | $382.60 | $0.49M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 774 | $390.28 | $0.30M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 480 | $388.36 | $0.19M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 260 | $392.36 | $0.10M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 560 | $391.34 | $0.22M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 410 | $389.18 | $0.16M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 440 | $378.56 | $0.17M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 1K | $379.53 | $0.43M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 840 | $381.36 | $0.32M | 2026-05-01 | ↗ |
| JENKINS MARK W. | Chief Financial Officer | SELL | 1K | $380.53 | $0.46M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 40 | $398.55 | $0.02M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 40 | $397.40 | $0.02M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 120 | $396.43 | $0.05M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 209 | $394.60 | $0.08M | 2026-05-01 | ↗ |
| HUSTON BENJAMIN E. | Chief Operating Officer | SELL | 171 | $393.67 | $0.07M | 2026-05-01 | ↗ |
| MAROONE MICHAEL E | — | SELL | 2 | $310.76 | $0.00M | 2026-03-16 | ↗ |
| MAROONE MICHAEL E | — | SELL | 3 | $411.61 | $0.00M | 2026-02-09 | ↗ |
| MAROONE MICHAEL E | — | BUY | 5 | $441.36 | $0.00M | 2026-01-08 | ↗ |
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| T. Rowe Price Associates, Inc. | SC 13G/A | 17.8M | 12.6% | 2026-02-17 | ↗ |
| BlackRock, Inc. | SC 13G/A | 10.8M | 7.6% | 2026-01-21 | ↗ |
| The Vanguard Group | SC 13G/A | 16.8M | 11.9% | 2026-01-07 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.