Carvana’s (CVNA) Overweight Rating Reaffirmed at Stephens

Carvana (NYSE:CVNA)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They currently have a $300.00 price objective on the stock. Stephens’ price objective points to a potential upside of 15.96% from the stock’s previous close.

Several other research firms also recently weighed in on CVNA. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Jefferies Financial Group boosted their price target on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Moderate Buy” and an average price target of $244.88.

Carvana Price Performance

Shares of CVNA opened at $258.71 on Thursday. Carvana has a fifty-two week low of $46.38 and a fifty-two week high of $268.34. The company has a market capitalization of $53.72 billion, a price-to-earnings ratio of 25,807.61 and a beta of 3.37. The firm has a 50-day simple moving average of $230.46 and a 200-day simple moving average of $196.87. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Insider Buying and Selling at Carvana

In related news, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,845 shares of company stock valued at $30,742,656 in the last three months. Corporate insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

Institutional investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC grew its stake in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after acquiring an additional 65 shares during the period. Forum Financial Management LP boosted its holdings in shares of Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Carvana by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after acquiring an additional 86 shares during the period. 56.71% of the stock is owned by institutional investors.

About Carvana

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.