Plato Investment Management Ltd Has $1.06 Million Stock Position in Carvana Co. (NYSE:CVNA)

Plato Investment Management Ltd raised its holdings in Carvana Co. (NYSE:CVNA) by 135.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,204 shares of the company’s stock after acquiring an additional 2,994 shares during the quarter. Plato Investment Management Ltd’s holdings in Carvana were worth $1,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its position in Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Lingotto Investment Management LLP increased its position in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after buying an additional 57,215 shares during the period. State Street Corp increased its position in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after buying an additional 107,610 shares during the period. Geode Capital Management LLC increased its position in shares of Carvana by 7.8% during the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after buying an additional 131,059 shares during the period. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Carvana during the third quarter worth $162,953,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira J. Platt sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the sale, the director now owns 5,227 shares of the company’s stock, valued at $1,276,956.10. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,629 shares of company stock worth $30,866,419 over the last quarter. Insiders own 17.12% of the company’s stock.

Carvana Stock Down 5.9 %

Carvana stock opened at $219.39 on Tuesday. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The firm has a market capitalization of $45.55 billion, a price-to-earnings ratio of 139.74 and a beta of 3.37. The firm’s fifty day moving average price is $233.01 and its two-hundred day moving average price is $212.38. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities research analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVNA. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Needham & Company LLC increased their price objective on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Evercore ISI increased their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Bank of America increased their target price on shares of Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

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.