25,500 Shares in Carvana Co. $CVNA Bought by Polianta Ltd

Key Points

• Polianta Ltd. acquired 25,500 Carvana shares during the second quarter, worth approximately $1.68 million. Hedge funds and institutional investors collectively own 56.71% of the company.
• Carvana reported stronger-than-expected quarterly results, with EPS of $0.42 versus a $0.39 consensus estimate and revenue of $7.38 billion, up 52.4% year over year.
• CVNA shares recently traded at $70.83, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $84.14; meanwhile, insiders sold $26.6 million of stock over the past three months.

Polianta Ltd bought a new stake in shares of Carvana Co. (NYSE:CVNA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,500 shares of the company's stock, valued at approximately $1,678,000.

Several other hedge funds have also bought and sold shares of the stock. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana in the fourth quarter worth about $29,000. Motiv8 Investments LLC purchased a new stake in shares of Carvana in the fourth quarter worth about $33,000. Ascentis Independent Advisors bought a new position in Carvana during the first quarter valued at approximately $26,000. Salomon & Ludwin LLC boosted its stake in Carvana by 112.5% during the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company's stock valued at $37,000 after buying an additional 45 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company's stock valued at $30,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Trading Up 3.6%

Shares of CVNA stock opened at $70.83 on Friday. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The stock's 50 day simple moving average is $66.55 and its two-hundred day simple moving average is $69.82. The company has a market cap of $77.95 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 2.62 and a beta of 3.46.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company posted $1.51 EPS. The company's revenue for the quarter was up 52.4% compared to the same quarter last year. Research analysts predict that Carvana Co. will post 1.65 earnings per share for the current year.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.55, for a total value of $3,427,500.00. Following the completion of the sale, the chief operating officer owned 458,755 shares in the company, valued at approximately $31,447,655.25. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the sale, the director owned 186,470 shares of the company's stock, valued at $12,648,260.10. This trade represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 391,372 shares of company stock valued at $26,555,789 over the last three months. Corporate insiders own 15.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVNA. Evercore set a $75.00 price objective on Carvana in a report on Thursday, July 30th. BTIG Research cut their target price on shares of Carvana from $97.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Jefferies Financial Group reduced their price target on shares of Carvana from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. Stephens upped their price target on shares of Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Finally, Gordon Haskett increased their price objective on shares of Carvana from $67.00 to $85.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.14.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana's model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

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