Carvana (NYSE:CVNA) Given New $110.00 Price Target at Morgan Stanley

Carvana (NYSE:CVNA) had its target price boosted by Morgan Stanley from $75.00 to $110.00 in a research note issued to investors on Thursday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Other research analysts have also issued research reports about the company. William Blair reissued an outperform rating on shares of Carvana in a research report on Thursday, May 2nd. Evercore ISI raised their price objective on Carvana from $135.00 to $140.00 and gave the company an in-line rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a research report on Friday, July 19th. BTIG Research assumed coverage on shares of Carvana in a research report on Friday, July 12th. They set a buy rating and a $155.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on shares of Carvana from $90.00 to $130.00 and gave the stock a sector perform rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Carvana presently has a consensus rating of Hold and a consensus target price of $143.60.

Carvana Price Performance

Shares of NYSE CVNA opened at $137.20 on Thursday. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. Carvana has a 1 year low of $25.09 and a 1 year high of $154.00. The company’s 50-day moving average is $120.56 and its 200 day moving average is $92.87. The stock has a market capitalization of $27.79 billion, a P/E ratio of 60.18 and a beta of 3.37.

Insider Buying and Selling at Carvana

In other Carvana news, Director Gregory B. Sullivan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $120.90, for a total value of $604,500.00. Following the completion of the transaction, the director now owns 58,407 shares of the company’s stock, valued at approximately $7,061,406.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $99.83, for a total value of $5,989,800.00. Following the completion of the sale, the insider now owns 1,717,500 shares of the company’s stock, valued at $171,458,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory B. Sullivan sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $120.90, for a total value of $604,500.00. Following the completion of the transaction, the director now directly owns 58,407 shares in the company, valued at $7,061,406.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,435,166 shares of company stock worth $294,375,485. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in Carvana during the fourth quarter valued at $29,000. Ridgewood Investments LLC purchased a new position in shares of Carvana during the 2nd quarter valued at about $32,000. Parallel Advisors LLC grew its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the period. Summit Securities Group LLC increased its holdings in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the period. Institutional investors own 56.71% 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.