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

Plato Investment Management Ltd raised its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 135.5% in the fourth quarter, according to the company in its most recent disclosure 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 filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Lingotto Investment Management LLP grew its holdings 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 purchasing an additional 57,215 shares during the last quarter. State Street Corp increased its stake in shares of Carvana by 6.1% in the third quarter. State Street Corp now owns 1,877,511 shares of the company's stock valued at $326,893,000 after buying an additional 107,610 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock valued at $315,133,000 after buying an additional 131,059 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new position in Carvana during the 3rd quarter worth about $162,953,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Activity at Carvana

In other news, Director Ira J. Platt sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total value of $6,107,500.00. Following the sale, the director now directly owns 5,227 shares in the company, valued at $1,276,956.10. The trade was a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,629 shares of company stock worth $30,866,419. 17.18% of the stock is owned by company insiders.

Carvana Trading Up 0.7 %

Shares of NYSE CVNA traded up $1.34 during midday trading on Friday, reaching $188.19. 8,346,203 shares of the stock were exchanged, compared to its average volume of 4,293,237. Carvana Co. has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a market capitalization of $40.11 billion, a price-to-earnings ratio of 119.86 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business has a 50-day simple moving average of $231.95 and a two-hundred day simple moving average of $212.64.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities research analysts expect that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. JMP Securities restated a "market outperform" rating and issued a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday. Evercore ISI boosted their target price on Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $265.94.

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.