9,509 Shares in Carvana Co. $CVNA Bought by Greenland Capital Management LP

Greenland Capital Management LP bought a new stake in Carvana Co. (NYSE:CVNA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,509 shares of the company’s stock, valued at approximately $626,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. acquired a new position in shares of Carvana during the 4th quarter worth about $29,000. Motiv8 Investments LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $33,000. Ascentis Independent Advisors acquired a new stake in shares of Carvana in the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Carvana during the second quarter worth about $38,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Carvana in a research report on Friday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Carvana in a report on Thursday, July 30th. Robert W. Baird set a $72.00 target price on shares of Carvana in a research note on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Carvana in a research report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Insider Transactions at Carvana

In related news, Director Michael E. Maroone purchased 25,000 shares of the stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $61.80 per share, with a total value of $1,545,000.00. Following the acquisition, the director directly owned 168,573 shares in the company, valued at $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the sale, the chief financial officer owned 1,029,580 shares of the company’s stock, valued at $70,361,497.20. This trade represents a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 415,300 shares of company stock valued at $28,538,788. Corporate insiders own 15.19% of the company’s stock.

Carvana Price Performance

NYSE:CVNA opened at $74.65 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average price is $69.11 and its two-hundred day moving average price is $68.35. The firm has a market capitalization of $82.15 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 2.15 and a beta of 3.49. Carvana Co. has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. On average, analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

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.