Dragoneer Investment Group LLC Purchases Shares of 678,921 Carvana Co. $CVNA

Dragoneer Investment Group LLC acquired a new position in Carvana Co. (NYSE:CVNA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 678,921 shares of the company’s stock, valued at approximately $256,116,000. Carvana accounts for 5.7% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 8th largest position. Dragoneer Investment Group LLC owned about 0.31% of Carvana at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVNA. Hilltop National Bank purchased a new stake in Carvana during the second quarter valued at approximately $25,000. ORG Partners LLC grew its position in shares of Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after acquiring an additional 87 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Carvana in the 3rd quarter worth $38,000. Finally, Washington Trust Advisors Inc. purchased a new position in Carvana during the third quarter valued at $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 1.2%

CVNA stock opened at $433.18 on Tuesday. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $485.33. 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 company has a market capitalization of $94.23 billion, a price-to-earnings ratio of 98.90, a PEG ratio of 1.43 and a beta of 3.51. The business has a 50 day simple moving average of $374.73 and a two-hundred day simple moving average of $359.91.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $5.04 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was up 54.5% on a year-over-year basis. Research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. 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 report on Tuesday, December 23rd. Wall Street Zen lowered shares of Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of Carvana in a research note on Friday, November 21st. They set a “buy” rating and a $395.00 target price on the stock. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, DA Davidson set a $360.00 price objective on shares of Carvana in a research note on Thursday, October 30th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $446.32.

Insider Buying and Selling

In other news, Director Michael E. Maroone sold 30,928 shares of Carvana stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the sale, the director directly owned 143,573 shares of the company’s stock, valued at approximately $57,478,014.82. The trade was a 17.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 10,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $4,750,000.00. Following the completion of the sale, the insider owned 69,880 shares in the company, valued at $33,193,000. This represents a 12.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 524,332 shares of company stock worth $213,583,764 in the last 90 days. 16.36% of the stock is owned by company 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.