Polymer Capital Management HK LTD Acquires New Shares in Carvana Co. (NYSE:CVNA)

Polymer Capital Management HK LTD bought a new stake in shares of Carvana Co. (NYSE:CVNA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,908 shares of the company’s stock, valued at approximately $1,377,000.

Other large investors have also modified their holdings of the company. Ridgewood Investments LLC purchased a new position in Carvana during the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter valued at about $32,000. Summit Securities Group LLC raised its stake in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Carvana in the third quarter worth about $40,000. Finally, Fifth Third Bancorp grew its stake in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVNA. Wells Fargo & Company upped their price target on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group upped their target price on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC increased their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Evercore ISI upped their price objective on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, JMP Securities raised their target price on shares of Carvana from $200.00 to $320.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $220.94.

Carvana Stock Up 0.2 %

CVNA opened at $255.54 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. Carvana Co. has a twelve month low of $36.53 and a twelve month high of $268.34. The company has a market cap of $53.06 billion, a PE ratio of 25,579.58 and a beta of 3.32. The company has a 50-day moving average price of $216.65 and a 200 day moving average price of $161.56.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Sell-side analysts expect that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 14,548 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the transaction, the insider now owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. The trade was a 10.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,172,063 shares of company stock valued at $403,916,959 over the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

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.