Carvana Co. $CVNA Position Boosted by Dragoneer Investment Group LLC

Dragoneer Investment Group LLC lifted its holdings in Carvana Co. (NYSE:CVNA) by 44.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 979,460 shares of the company’s stock after buying an additional 300,539 shares during the period. Carvana makes up approximately 9.0% of Dragoneer Investment Group LLC’s portfolio, making the stock its 4th biggest holding. Dragoneer Investment Group LLC owned 0.45% of Carvana worth $413,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Carvana in the fourth quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. purchased a new position in Carvana in the fourth quarter valued at approximately $29,000. Motiv8 Investments LLC purchased a new position in Carvana in the fourth quarter valued at approximately $33,000. Salomon & Ludwin LLC lifted its stake in Carvana by 112.5% in the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new position in Carvana in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVNA shares. Robert W. Baird set a $88.00 price objective on Carvana in a research note on Friday, May 15th. Zacks Research upgraded Carvana from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Stephens upped their price objective on Carvana from $86.00 to $97.00 in a research note on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Carvana in a research note on Friday, June 5th. Finally, BTIG Research reissued a “buy” rating and set a $97.00 target price on shares of Carvana in a report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Carvana Trading Up 1.5%

Shares of CVNA stock opened at $69.96 on Wednesday. The company’s fifty day simple moving average is $71.47 and its two-hundred day simple moving average is $75.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38. The stock has a market capitalization of $76.73 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 11.63 and a beta of 3.45.

Carvana (NYSE:CVNA) last issued its 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. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. As a group, analysts anticipate that Carvana Co. will post 1.58 earnings per share for the current year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $62.07, for a total value of $3,956,962.50. Following the transaction, the chief financial officer owned 985,445 shares of the company’s stock, valued at approximately $61,166,571.15. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Danforth Quayle sold 14,525 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the transaction, the director directly owned 214,960 shares in the company, valued at approximately $15,047,200. The trade was a 6.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 415,812 shares of company stock valued at $29,056,896. Corporate insiders own 15.19% of the company’s stock.

Key Carvana News

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.