Polar Capital Holdings Plc Cuts Stake in Carvana Co. $CVNA

Polar Capital Holdings Plc cut its holdings in shares of Carvana Co. (NYSE:CVNA) by 67.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,287 shares of the company’s stock after selling 249,737 shares during the quarter. Polar Capital Holdings Plc’s holdings in Carvana were worth $49,919,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, insider Thomas Taira sold 18,850 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $68.20, for a total value of $1,285,570.00. Following the transaction, the insider directly owned 292,820 shares of the company’s stock, valued at $19,970,324. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $62.07, for a total transaction of $3,956,962.50. Following the sale, the chief financial officer owned 985,445 shares in the company, valued at $61,166,571.15. This represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 415,812 shares of company stock worth $29,056,896. 15.19% of the stock is currently owned by company insiders.

Carvana Price Performance

Shares of NYSE CVNA opened at $69.96 on Wednesday. The stock’s 50-day simple moving average is $71.47 and its 200-day simple moving average is $75.25. The firm has a market capitalization 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. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09.

Carvana (NYSE:CVNA) last announced 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 firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. As a group, equities research analysts forecast that Carvana Co. will post 1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent research reports. Zacks Research upgraded Carvana from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Gordon Haskett raised their target price on shares of Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Wedbush decreased their price target on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Stephens increased their price objective on shares of Carvana from $86.00 to $97.00 in a research report on Thursday, April 30th. Finally, Wells Fargo & Company raised their price objective on shares of Carvana from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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

Carvana 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.