Carvana (NYSE:CVNA) Research Coverage Started at Stephens

Stephens started coverage on shares of Carvana (NYSE:CVNA) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $190.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. JMP Securities restated a market outperform rating and set a $200.00 price objective on shares of Carvana in a research note on Monday, September 9th. Wedbush raised shares of Carvana to a neutral rating and upped their price target for the stock from $120.00 to $150.00 in a research note on Monday, August 19th. Robert W. Baird assumed coverage on shares of Carvana in a report on Thursday, August 1st. They issued a neutral rating and a $160.00 price objective for the company. Wells Fargo & Company raised Carvana from an equal weight rating to an overweight rating and boosted their target price for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Finally, Needham & Company LLC increased their price target on Carvana from $160.00 to $200.00 and gave the company a buy rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Carvana has a consensus rating of Hold and an average price target of $151.00.

Carvana Trading Up 1.0 %

Carvana stock opened at $141.90 on Thursday. Carvana has a 52-week low of $25.09 and a 52-week high of $159.85. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $29.36 billion, a price-to-earnings ratio of 62.24 and a beta of 3.43. The firm has a 50-day moving average price of $139.71 and a two-hundred day moving average price of $112.39.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. Sell-side analysts expect that Carvana will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’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 transaction of $14,868,000.00. Following the sale, the insider now owns 690,814 shares in the company, valued at $102,710,225.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 $102,710,225.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now directly owns 359,370 shares in the company, valued at $53,905,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,561,866 shares of company stock valued at $346,609,884. 17.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new stake in shares of Carvana during the 2nd quarter valued at $32,000. Parallel Advisors LLC boosted its position in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Summit Securities Group LLC grew its stake in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp increased its position in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Tidemark LLC purchased a new stake in shares of Carvana during the 4th quarter worth about $50,000. 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.