Carvana Co. $CVNA Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its stake in shares of Carvana Co. (NYSE:CVNA) by 67.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,287 shares of the company’s stock after selling 249,737 shares during the quarter. Polar Capital Holdings Plc owned about 0.05% of Carvana worth $49,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVNA. Rakuten Investment Management Inc. grew its holdings in Carvana by 107.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 18,170 shares of the company’s stock valued at $7,878,000 after buying an additional 9,403 shares in the last quarter. Goodnow Investment Group LLC raised its holdings in shares of Carvana by 9.0% during the 4th quarter. Goodnow Investment Group LLC now owns 710,091 shares of the company’s stock worth $299,673,000 after acquiring an additional 58,828 shares during the period. L2 Asset Management LLC boosted its position in shares of Carvana by 8.6% during the 4th quarter. L2 Asset Management LLC now owns 667 shares of the company’s stock valued at $281,000 after acquiring an additional 53 shares during the last quarter. Cynosure Group LLC acquired a new position in shares of Carvana during the 4th quarter valued at about $530,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in shares of Carvana by 8.7% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,623 shares of the company’s stock valued at $4,061,000 after purchasing an additional 768 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 1.5%

Shares of CVNA stock opened at $69.96 on Wednesday. Carvana Co. has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a market cap of $76.73 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 11.63 and a beta of 3.45. The company has a 50-day moving average of $71.47 and a two-hundred day moving average of $75.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. On average, analysts predict that Carvana Co. will post 1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVNA. Jefferies Financial Group cut their price objective on shares of Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $107.40 price target on shares of Carvana in a research note on Thursday, April 30th. DA Davidson lifted their price target on shares of Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. BNP Paribas Exane upped their price objective on Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Finally, Wedbush lowered their price objective on Carvana from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

Key Stories Impacting Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana is expanding beyond used cars and has purchased seven new-vehicle franchises since last year, a move that could broaden its revenue base and potentially disrupt the traditional dealership model. Carvana is expanding into new vehicles. The implications could reshape the U.S. automotive retail market
• Positive Sentiment: Wall Street price targets imply roughly 37% upside for CVNA, and the recent trend in earnings estimate revisions suggests analysts remain constructive on the company’s outlook. Can Carvana (CVNA) Climb 37.01% to Reach the Level Wall Street Analysts Expect?
• Positive Sentiment: Market commentary has also been favorable, with Jim Cramer calling Carvana “a great buy,” which may have helped reinforce bullish sentiment among retail investors. Jim Cramer Notes “Carvana Was a Great Buy for Us”
• Neutral Sentiment: Carvana shares have been rising while the broader market has been weaker, indicating relative strength rather than a clear company-specific catalyst from the latest trading session. Carvana (CVNA) Ascends While Market Falls: Some Facts to Note
• Neutral Sentiment: A director sold 15,000 shares at $67.83, but the transaction was relatively small versus the insider’s remaining holdings and does not necessarily signal a major shift in fundamentals. SEC Form 4 filing for Ira J. Platt

Insider Buying and Selling

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.42, for a total transaction of $352,100.00. Following the transaction, the vice president directly owned 152,955 shares in the company, valued at $10,771,091.10. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the transaction, the director owned 214,960 shares of the company’s stock, valued at approximately $15,047,200. This represents a 6.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 415,812 shares of company stock valued at $29,056,896 over the last quarter. 15.19% of the stock is owned by corporate insiders.

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.