Polianta Ltd Sells 1,300 Shares of Carvana Co. (NYSE:CVNA)

Polianta Ltd decreased its position in Carvana Co. (NYSE:CVNA) by 15.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,200 shares of the company’s stock after selling 1,300 shares during the quarter. Carvana makes up 0.6% of Polianta Ltd’s portfolio, making the stock its 25th biggest position. Polianta Ltd’s holdings in Carvana were worth $1,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of Carvana in the 2nd quarter worth approximately $32,000. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana during the third quarter valued at $32,000. Summit Securities Group LLC raised its position in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp boosted its stake in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana during the 2nd quarter valued at about $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00. Following the completion of the transaction, the insider now owns 38,458,131 shares in the company, valued at $7,333,965,581.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $190.70, for a total value of $19,070,000.00. Following the sale, the insider now directly owns 38,458,131 shares in the company, valued at $7,333,965,581.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 30,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider now directly owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,674,366 shares of company stock worth $410,768,909. Corporate insiders own 17.12% of the company’s stock.

Carvana Stock Performance

NYSE:CVNA opened at $192.25 on Monday. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana Co. has a 12-month low of $25.09 and a 12-month high of $194.75. The stock has a 50-day moving average price of $157.06 and a 200 day moving average price of $125.77. The stock has a market capitalization of $38.94 billion, a P/E ratio of 84.32 and a beta of 3.44.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Equities research analysts forecast that Carvana Co. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wedbush lifted their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. TD Cowen upped their price objective on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. DA Davidson lifted their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. Finally, Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Hold” and a consensus price target of $171.76.

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.