Lee Johnson Capital Management LLC Buys New Shares in Carvana Co. $CVNA

Lee Johnson Capital Management LLC acquired a new position in Carvana Co. (NYSE:CVNA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,729 shares of the company’s stock, valued at approximately $5,179,000. Carvana makes up 1.7% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding.

Several other hedge funds have also added to or reduced their stakes in CVNA. Diversified Trust Co increased its stake in Carvana by 1.1% in the 3rd quarter. Diversified Trust Co now owns 3,168 shares of the company’s stock worth $1,195,000 after purchasing an additional 36 shares during the period. LVW Advisors LLC bought a new position in shares of Carvana in the third quarter worth approximately $260,000. Ethic Inc. grew its holdings in shares of Carvana by 14.2% in the third quarter. Ethic Inc. now owns 10,305 shares of the company’s stock worth $3,887,000 after purchasing an additional 1,281 shares during the last quarter. Encompass More Asset Management purchased a new position in shares of Carvana in the third quarter worth $1,016,000. Finally, LeConte Wealth Management LLC bought a new stake in Carvana during the 3rd quarter valued at $213,000. 56.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVNA. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a report on Monday. Morgan Stanley set a $450.00 target price on shares of Carvana in a report on Monday, October 20th. Citigroup raised their target price on Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price target on shares of Carvana in a research report on Monday, November 17th. Finally, Evercore ISI raised their price objective on shares of Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research note on Tuesday, December 23rd. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $446.32.

Carvana Price Performance

NYSE CVNA opened at $429.21 on Wednesday. Carvana Co. has a one year low of $148.25 and a one year high of $485.33. The stock has a 50-day moving average of $376.20 and a 200 day moving average of $360.84. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The company has a market capitalization of $93.37 billion, a price-to-earnings ratio of 97.99, a PEG ratio of 1.41 and a beta of 3.51.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the previous year, the business earned $0.64 EPS. The business’s revenue was up 54.5% compared to the same quarter last year. On average, sell-side analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, Director Michael E. Maroone sold 30,928 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the transaction, the director directly owned 143,573 shares of the company’s stock, valued at $57,478,014.82. This represents a 17.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 20,000 shares of Carvana stock in a transaction on Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $9,500,000.00. Following the completion of the sale, the chief operating officer directly owned 100,758 shares of the company’s stock, valued at $47,860,050. The trade was a 16.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 475,582 shares of company stock worth $194,477,103. 16.36% of the stock is owned by corporate insiders.

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.