Plato Investment Management Ltd Raises Holdings in Carvana Co. (NYSE:CVNA)

Plato Investment Management Ltd grew its position in shares of Carvana Co. (NYSE:CVNA) by 66.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of Carvana during the second quarter valued at about $32,000. Summit Securities Group LLC grew its position in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp grew its position in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares in the last quarter. GAMMA Investing LLC grew its position in Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after acquiring an additional 257 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in Carvana in the second quarter worth about $68,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.73, for a total transaction of $10,179,750.00. Following the completion of the sale, the insider now owns 40,583,131 shares in the company, valued at $5,508,348,370.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 1,057,500 shares in the company, valued at $115,119,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00. Following the sale, the insider now owns 40,583,131 shares of the company’s stock, valued at approximately $5,508,348,370.63. The disclosure for this sale can be found here. Insiders sold a total of 2,481,866 shares of company stock worth $338,115,484 over the last 90 days. Company insiders own 17.12% of the company’s stock.

Carvana Stock Up 7.6 %

Shares of NYSE CVNA opened at $152.70 on Tuesday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a market capitalization of $31.60 billion, a price-to-earnings ratio of 66.97 and a beta of 3.43. The stock has a 50 day moving average price of $140.31 and a 200 day moving average price of $113.19. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $159.85.

Carvana (NYSE:CVNA) last announced its quarterly 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. Sell-side analysts expect that Carvana Co. will post 0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVNA. Piper Sandler lifted their price target on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research report on Monday, September 9th. BTIG Research lifted their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. Finally, TD Cowen raised their price objective on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average price target of $151.94.

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.