Plato Investment Management Ltd Purchases 1,174 Shares of Carvana Co. (NYSE:CVNA)

Plato Investment Management Ltd lifted its position in shares of Carvana Co. (NYSE:CVNA) by 113.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,210 shares of the company’s stock after buying an additional 1,174 shares during the period. Plato Investment Management Ltd’s holdings in Carvana were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Forum Financial Management LP increased its holdings in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares during the last quarter. Empirical Asset Management LLC increased its stake in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after purchasing an additional 100 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares during the period. CWM LLC lifted its stake in Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after purchasing an additional 150 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Bank of America upped their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BTIG Research increased their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $217.71.

Carvana Stock Up 0.2 %

Shares of NYSE CVNA opened at $240.44 on Friday. Carvana Co. has a 52 week low of $29.84 and a 52 week high of $259.39. The stock’s fifty day moving average is $190.55 and its 200 day moving average is $148.16. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market capitalization of $49.92 billion, a P/E ratio of 24,044.00 and a beta of 3.37.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Sell-side analysts forecast that Carvana Co. will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the completion of the transaction, the insider now directly owns 490,814 shares in the company, valued at $76,051,629.30. This represents a 16.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 208,495 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the sale, the chief financial officer now owns 90,732 shares in the company, valued at $20,362,982.76. This represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,627,249 shares of company stock valued at $468,516,322. 17.12% of the stock is currently owned by corporate insiders.

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.