Plato Investment Management Ltd increases its position in Carvana Co. (NYSE:CVNA)

Plato Investment Management Ltd grew its holdings in shares of Carvana Co. (NYSE:CVNA – Free Report) by 66.0% in the second quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Other hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Carvana in the second quarter valued at $32,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter . Summit Securities Group LLC grew its position in Carvana by 110.0% in the 2nd 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 in the last quarter. Fifth Third Bancorp raised its stake in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter . Finally, Tidemark LLC acquired a new position in Carvana in the fourth quarter valued at approximately $50,000. 56.71% of shares are held by institutional investors.

Carvana stock performance

NYSE:CVNA opened at $152.70 on Tuesday. The stock has a 50 day simple moving average of $140.31 and a two hundred day simple moving average of $113.19. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02, and a current ratio of 3.11. Caravan Co. it has a 52-week low of $25.09 and a 52-week high of $159.85. The firm has a market cap of $31.60 billion, a PE ratio of 66.97 and a beta of 3.43.

Carvana (NYSE:CVNA – Get Your Free Report ) last posted its 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. Analysts estimate that Carvana Co. will record 0.18 EPS for the current year.

The Wall Street analyst weighs in

CVNA has been the subject of several analyst reports. Evercore ISI upped their target price on shares of Carvana from $142.00 to $157.00 and gave the company an “in-line” rating in a research report on Monday. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. DA Davidson upped their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Carvana presently has an average rating of “Hold” and an average price target of $151.94, according to MarketBeat.

Read the latest stock analysis on Carvana

Indoor activity

In other Carvana news, Director Ira J. Platt sold 664 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the sale, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Carvana news, majority shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the sale, the insider now directly owns 1,057,500 shares of the company’s stock, valued at $115,119,450. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The disclosure for this sale can be found here. Insiders have sold 2,481,866 shares of the company worth $338,115,484 in the last three months. Company insiders own 17.12% of the company’s shares.

Carvana company profile

(Free report)

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 the company’s 360-degree vehicle imaging technology; get financing and warranty coverage; vehicle purchase; and schedule delivery or pickup from your desktop or mobile devices.

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