Carvana (NYSE:CVNA) Rating Reiterated by JMP Securities

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research report issued on Monday, Benzinga reports. They presently have a $200.00 target price on the stock. JMP Securities’ price objective points to a potential upside of 45.65% from the company’s previous close.

A number of other analysts also recently weighed in on CVNA. BTIG Research boosted their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler boosted their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Evercore ISI dropped their price target on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley lifted their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $148.40.

Carvana Price Performance

Shares of Carvana stock traded up $3.91 during trading hours on Monday, reaching $137.32. The company’s stock had a trading volume of 565,021 shares, compared to its average volume of 5,145,924. The firm has a 50 day moving average price of $138.77 and a 200-day moving average price of $110.29. Carvana has a one year low of $25.09 and a one year high of $159.85. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The stock has a market cap of $28.42 billion, a P/E ratio of 60.23 and a beta of 3.43.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the sale, the insider now owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $110.25, for a total value of $6,615,000.00. Following the sale, the insider now directly owns 1,357,500 shares of the company’s stock, valued at approximately $149,664,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the sale, the insider now directly owns 690,814 shares in the company, valued at $102,710,225.52. The disclosure for this sale can be found here. Insiders sold a total of 2,600,422 shares of company stock valued at $345,634,177 in the last three months. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several large investors have recently made changes to their positions in CVNA. Truist Financial Corp boosted its holdings in shares of Carvana by 62.0% in the 4th quarter. Truist Financial Corp now owns 8,495 shares of the company’s stock valued at $450,000 after acquiring an additional 3,251 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Carvana by 112.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock worth $90,000 after buying an additional 901 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Carvana by 37.1% during the fourth quarter. Victory Capital Management Inc. now owns 12,680 shares of the company’s stock worth $671,000 after buying an additional 3,430 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after buying an additional 53,318 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Carvana by 25.7% during the fourth quarter. Teacher Retirement System of Texas now owns 8,760 shares of the company’s stock worth $464,000 after buying an additional 1,789 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.