Greenland Capital Management LP Acquires Shares of 9,509 Carvana Co. $CVNA

Greenland Capital Management LP purchased a new stake in Carvana Co. (NYSE:CVNA) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 9,509 shares of the company’s stock, valued at approximately $626,000.

A number of other large investors have also added to or reduced their stakes in the stock. Sands Capital Management LLC lifted its position in Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after purchasing an additional 751,019 shares during the period. Capricorn Fund Managers Ltd bought a new position in Carvana in the 1st quarter valued at about $29,866,000. Gavilan Investment Partners LLC increased its holdings in Carvana by 24.6% in the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock valued at $36,294,000 after buying an additional 17,000 shares during the period. Hsbc Holdings PLC increased its holdings in Carvana by 239.6% in the 4th quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after buying an additional 156,430 shares during the period. Finally, Swiss National Bank raised its position in shares of Carvana by 9.9% in the 1st quarter. Swiss National Bank now owns 395,180 shares of the company’s stock valued at $124,237,000 after buying an additional 35,720 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In other Carvana news, Director J Quayle sold 14,525 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.00, for a total value of $1,089,375.00. Following the completion of the transaction, the director directly owned 214,960 shares in the company, valued at approximately $16,122,000. This trade represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $357,750.00. Following the sale, the vice president owned 128,886 shares in the company, valued at approximately $9,221,793.30. This trade represents a 3.73% 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 a total of 415,300 shares of company stock worth $28,538,788 over the last 90 days. 15.19% of the stock is currently owned by company insiders.

Carvana Price Performance

CVNA stock opened at $74.65 on Tuesday. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a 50 day simple moving average of $69.11 and a 200 day simple moving average of $68.35. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The company’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the business posted $1.51 earnings per share. Research analysts anticipate that Carvana Co. will post 1.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on CVNA shares. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 price objective on shares of Carvana in a research report on Friday, July 31st. UBS Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Carvana in a report on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of Carvana in a research note on Monday, August 31st. Finally, Evercore set a $75.00 price target on Carvana in a report on Thursday, July 30th. One investment 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 data from MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

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.