Carvana Co. (NYSE:CVNA) Short Interest Update

Carvana Co. (NYSE:CVNA) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 13,400,000 shares, an increase of 7.7% from the December 31st total of 12,440,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is currently 4.1 days.

Carvana Stock Performance

Shares of CVNA stock opened at $257.80 on Tuesday. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a market cap of $53.53 billion, a P/E ratio of 25,805.31 and a beta of 3.37. The firm’s 50 day moving average price is $230.40 and its 200-day moving average price is $195.56. Carvana has a one year low of $41.75 and a one year high of $268.34.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Thursday, January 2nd. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $195.00 to $277.00 in a research report on Wednesday, January 8th. Wedbush raised their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. Finally, Bank of America boosted their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.88.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total transaction of $4,835,600.00. Following the sale, the chief financial officer now directly owns 170,732 shares in the company, valued at $41,279,582.96. This trade represents a 10.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,845 shares of company stock worth $33,077,056 over the last quarter. Insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in Carvana during the third quarter worth about $162,953,000. Lord Abbett & CO. LLC boosted its stake in shares of Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Carvana during the third quarter worth $50,531,000. Finally, Holocene Advisors LP increased its holdings in shares of Carvana by 108.2% in the 3rd quarter. Holocene Advisors LP now owns 554,112 shares of the company’s stock valued at $96,476,000 after acquiring an additional 287,983 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.