Carvana (NYSE:CVNA) Shares Up 4% – What’s Next?

Carvana Co. (NYSE:CVNA)’s stock price shot up 4% on Friday . The company traded as high as $192.98 and last traded at $192.81. 2,131,848 shares were traded during mid-day trading, a decline of 45% from the average session volume of 3,841,689 shares. The stock had previously closed at $185.42.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVNA. Stephens restated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. DA Davidson raised their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Finally, Royal Bank of Canada lifted their price objective on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.71.

Carvana Stock Performance

The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a market cap of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56. The stock has a fifty day simple moving average of $227.57 and a 200-day simple moving average of $214.95.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,784 shares of company stock worth $27,524,344 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana during the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc acquired a new position in shares of Carvana during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds 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.