Carvana (NYSE:CVNA) Stock Price Up 6.7%

Carvana Co. (NYSE:CVNA) shares rose 6.7% on Tuesday . The stock traded as high as $143.80 and last traded at $142.36. Approximately 2,119,733 shares traded hands during trading, a decline of 61% from the average daily volume of 5,445,217 shares. The stock had previously closed at $133.48.

Analysts Set New Price Targets

A number of research firms have recently commented on CVNA. DA Davidson raised their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI decreased their price target on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. TD Cowen increased their price objective on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird began coverage on shares of Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. Finally, Wedbush reissued a “neutral” rating and issued a $120.00 price target on shares of Carvana in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $143.73.

Carvana Stock Up 1.5 %

The stock has a market capitalization of $29.19 billion, a P/E ratio of 62.30 and a beta of 3.37. The stock has a 50 day moving average price of $125.96 and a 200-day moving average price of $97.73. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $117.02, for a total value of $7,021,200.00. Following the transaction, the insider now directly owns 2,377,500 shares of the company’s stock, valued at approximately $278,215,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.25, for a total transaction of $496,250.00. Following the completion of the transaction, the chief financial officer now directly owns 192,552 shares of the company’s stock, valued at $19,110,786. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $117.02, for a total value of $7,021,200.00. Following the completion of the sale, the insider now directly owns 2,377,500 shares in the company, valued at $278,215,050. The disclosure for this sale can be found here. Insiders sold 2,468,234 shares of company stock worth $303,722,677 in the last ninety days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Carvana by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after acquiring an additional 53,318 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Carvana by 38.6% in the 4th quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after purchasing an additional 12,193 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its position in shares of Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Carvana in the first quarter worth $1,783,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

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.