Lecap Asset Management Ltd. Invests $1.44 Million in Carvana Co. (NYSE:CVNA)

Lecap Asset Management Ltd. purchased a new position in shares of Carvana Co. (NYSE:CVNA) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,289 shares of the company’s stock, valued at approximately $1,443,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVNA. Wellington Management Group LLP acquired a new stake in Carvana in the 4th quarter valued at about $4,703,000. PNC Financial Services Group Inc. raised its position in Carvana by 63.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock worth $131,000 after purchasing an additional 965 shares during the last quarter. Diversified Trust Co lifted its holdings in Carvana by 53.3% during the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock worth $763,000 after buying an additional 3,019 shares in the last quarter. Principal Financial Group Inc. boosted its position in Carvana by 9.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock valued at $1,117,000 after buying an additional 1,068 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of Carvana in the 1st quarter valued at $244,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVNA has been the topic of several research reports. DA Davidson upped their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research note on Monday, September 9th. TD Cowen boosted their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Finally, Stephens initiated coverage on Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $182.29.

Carvana Price Performance

NYSE CVNA opened at $197.37 on Thursday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of 86.75 and a beta of 3.44. The business has a 50 day simple moving average of $164.96 and a 200 day simple moving average of $131.07. Carvana Co. has a 52-week low of $25.09 and a 52-week high of $200.50.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Analysts anticipate that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $193.06, for a total transaction of $19,306,000.00. Following the completion of the transaction, the insider now owns 38,058,131 shares in the company, valued at approximately $7,347,502,770.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $193.06, for a total transaction of $19,306,000.00. Following the completion of the transaction, the insider now owns 38,058,131 shares in the company, valued at approximately $7,347,502,770.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 30,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the transaction, the insider now owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,859,366 shares of company stock worth $465,069,909. Corporate insiders own 17.12% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.