Lee Johnson Capital Management LLC Invests $5.18 Million in Carvana Co. $CVNA

Lee Johnson Capital Management LLC bought a new position in shares of Carvana Co. (NYSE:CVNA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,729 shares of the company’s stock, valued at approximately $5,179,000. Carvana accounts for about 1.7% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 21st largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after acquiring an additional 60 shares during the period. Vident Advisory LLC bought a new stake in Carvana in the first quarter valued at $804,000. OLD Mission Capital LLC acquired a new position in shares of Carvana during the first quarter valued at about $238,000. Royal Bank of Canada boosted its position in shares of Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Carvana during the 1st quarter worth about $656,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Down 1.0%

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 business’s fifty day moving average is $376.20 and its 200-day moving average is $360.84. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The stock 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 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities research analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Evercore ISI upped their price target on Carvana from $420.00 to $425.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 23rd. Jefferies Financial Group increased their target price on Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Stephens restated an “overweight” rating and set a $440.00 price objective on shares of Carvana in a report on Tuesday, September 23rd. DA Davidson set a $360.00 target price on shares of Carvana in a research report on Thursday, October 30th. Finally, Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $446.32.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 40,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the completion of the transaction, the chief operating officer owned 100,758 shares of the company’s stock, valued at approximately $44,283,141. The trade was a 28.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan S. Keeton sold 32,370 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the completion of the transaction, the insider owned 115,456 shares in the company, valued at approximately $34,830,766.08. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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 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.