Polianta Ltd Trims Holdings in Carvana Co. $CVNA

Key Points

• Polianta Ltd has reduced its stake in Carvana Co. by 20%, selling 1,100 shares and now holding 4,400 shares valued at $1,482,000.
• Major shareholder Ernest C. Garcia II sold a total of 193,376 shares of Carvana, representing a significant decrease in their ownership position.
• Carvana's stock performance remains strong, with recent earnings surpassing analyst expectations and a market cap of $81.22 billion.

Polianta Ltd trimmed its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 20.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,400 shares of the company's stock after selling 1,100 shares during the quarter. Carvana makes up 0.6% of Polianta Ltd's portfolio, making the stock its 23rd biggest holding. Polianta Ltd's holdings in Carvana were worth $1,482,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Carvana by 82.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,533 shares of the company's stock worth $1,579,000 after acquiring an additional 2,051 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Carvana during the 2nd quarter worth $15,231,000. Wedmont Private Capital increased its position in shares of Carvana by 12.7% during the second quarter. Wedmont Private Capital now owns 1,680 shares of the company's stock valued at $590,000 after buying an additional 189 shares during the period. Swedbank AB lifted its stake in shares of Carvana by 21.3% in the second quarter. Swedbank AB now owns 83,688 shares of the company's stock worth $28,200,000 after buying an additional 14,675 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of Carvana by 102.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,423 shares of the company's stock worth $451,000 after purchasing an additional 51,423 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on CVNA shares. William Blair reaffirmed an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price objective on Carvana from $400.00 to $460.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Bank of America lifted their price target on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on Carvana from $415.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of Carvana from $365.00 to $370.00 and gave the stock an "in-line" rating in a report on Tuesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $384.06.

Insider Buying and Selling

In related news, Director Ira J. Platt sold 14,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the transaction, the director owned 7,231 shares in the company, valued at approximately $2,741,561.34. This represents a 65.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the completion of the sale, the insider owned 83,018 shares in the company, valued at approximately $31,131,750. The trade was a 15.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,426,037 shares of company stock valued at $860,238,704. Company insiders own 17.12% of the company's stock.

Carvana Stock Up 3.9%

Shares of CVNA stock traded up $14.72 during mid-day trading on Friday, hitting $392.88. The company's stock had a trading volume of 5,379,671 shares, compared to its average volume of 2,262,936. The stock has a market cap of $84.55 billion, a price-to-earnings ratio of 98.47, a PEG ratio of 1.28 and a beta of 3.51. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The business has a 50-day moving average price of $356.76 and a 200 day moving average price of $295.73. Carvana Co. has a 52-week low of $148.25 and a 52-week high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The firm's revenue for the quarter was up 41.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) EPS. Research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Carvana 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.