Plato Investment Management Ltd Has $384,000 Holdings in Carvana Co. (NYSE:CVNA)

Plato Investment Management Ltd boosted its stake in Carvana Co. (NYSE:CVNA) by 113.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,210 shares of the company’s stock after purchasing 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 reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC boosted its position in Carvana by 315.6% during the first quarter. SG Americas Securities LLC now owns 9,176 shares of the company’s stock valued at $807,000 after acquiring an additional 6,968 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Carvana during the first quarter worth approximately $467,000. US Bancorp DE increased its holdings in Carvana by 724.5% in the first quarter. US Bancorp DE now owns 5,549 shares of the company’s stock worth $488,000 after purchasing an additional 4,876 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Carvana by 302.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 110,201 shares of the company’s stock valued at $9,688,000 after buying an additional 82,802 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in shares of Carvana during the 1st quarter worth approximately $216,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVNA. Piper Sandler lifted their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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. Citigroup increased their price objective on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Needham & Company LLC boosted their target price on Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus price target of $217.71.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the sale, the chief financial officer now owns 90,732 shares of the company’s stock, valued at approximately $20,362,982.76. The trade was a 69.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the transaction, the director now directly owns 53,407 shares of the company’s stock, valued at approximately $12,550,645. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,627,249 shares of company stock worth $468,516,322 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Carvana Stock Up 0.2 %

CVNA opened at $240.44 on Friday. Carvana Co. has a fifty-two week low of $29.84 and a fifty-two week high of $259.39. The firm has a market capitalization of $49.92 billion, a P/E ratio of 24,044.00 and a beta of 3.37. The company’s 50-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 current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. Research analysts expect that Carvana Co. will post 0.62 earnings per share for the current fiscal year.

About Carvana

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.