Plato Investment Management Ltd Increases Position in Carvana Co. (NYSE:CVNA)

Plato Investment Management Ltd grew its holdings in shares of Carvana Co. (NYSE:CVNA) by 66.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,036 shares of the company’s stock after purchasing an additional 412 shares during the period. Plato Investment Management Ltd’s holdings in Carvana were worth $133,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Carvana in the second quarter worth $32,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Summit Securities Group LLC grew its position in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp increased its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Tidemark LLC purchased a new position in Carvana in the fourth quarter worth about $50,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $152.70 on Tuesday. The stock has a 50-day simple moving average of $140.31 and a two-hundred day simple moving average of $113.19. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $159.85. The firm has a market capitalization of $31.60 billion, a PE ratio of 66.97 and a beta of 3.43.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Analysts forecast that Carvana Co. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of several analyst reports. Evercore ISI raised their price target on shares of Carvana from $142.00 to $157.00 and gave the company an “in-line” rating in a research report on Monday. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. DA Davidson boosted their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Stephens started coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of “Hold” and an average target price of $151.94.

Insider Activity

In other Carvana news, Director Ira J. Platt sold 664 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the sale, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at $115,119,450. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira J. Platt sold 664 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The disclosure for this sale can be found here. Insiders have sold 2,481,866 shares of company stock worth $338,115,484 in the last three months. Company insiders own 17.12% of the company’s stock.

Carvana Company 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.