Encompass More Asset Management Invests $1.02 Million in Carvana Co. $CVNA

Encompass More Asset Management 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 SEC. The fund bought 2,692 shares of the company’s stock, valued at approximately $1,016,000.

Several other large investors have also recently bought and sold shares of the stock. Hilltop National Bank bought a new stake in shares of Carvana during the second quarter worth approximately $25,000. SJS Investment Consulting Inc. lifted its holdings in Carvana by 960.0% during 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 during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Carvana in the 2nd quarter valued at $38,000. LRI Investments LLC acquired a new position in Carvana in the 2nd quarter valued at $42,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Carvana during the 2nd quarter worth $49,000. 56.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. DA Davidson set a $360.00 target price on Carvana in a report on Thursday, October 30th. Bank of America boosted their price objective on shares of Carvana from $385.00 to $455.00 and gave the company a “buy” rating in a report on Monday, December 8th. Jefferies Financial Group increased their target price on shares of Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. increased their price target on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $446.32.

Carvana Stock Performance

Shares of Carvana stock opened at $438.45 on Monday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The company has a market cap of $95.38 billion, a PE ratio of 100.10, a price-to-earnings-growth ratio of 1.43 and a beta of 3.51. The company has a 50 day moving average of $372.83 and a 200-day moving average of $359.10. Carvana Co. has a 1-year low of $148.25 and a 1-year high of $485.33.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 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 firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 80,000 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 $35,160,000.00. Following the completion of the transaction, the insider owned 191,106 shares of the company’s stock, valued at approximately $83,991,087. The trade was a 29.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin E. Huston sold 40,000 shares of the 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 directly owned 100,758 shares of the company’s stock, valued at $44,283,141. This trade represents a 28.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 534,332 shares of company stock worth $217,386,210 in the last three months. Insiders own 16.36% of the company’s stock.

About Carvana

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.