Carvana (NYSE:CVNA) Trading 1.9% Higher

Carvana Co. (NYSE:CVNA)’s stock price shot up 1.9% during trading on Friday . The stock traded as high as $157.54 and last traded at $155.90. 905,727 shares traded hands during trading, a decline of 83% from the average session volume of 5,323,803 shares. The stock had previously closed at $153.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVNA shares. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $77.00 to $175.00 in a research note on Thursday, August 1st. Piper Sandler upped their price objective on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, TD Cowen boosted their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and an average price target of $148.40.

Carvana Price Performance

The company has a 50-day moving average of $131.69 and a 200-day moving average of $101.98. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11. The stock has a market cap of $32.22 billion, a price-to-earnings ratio of 68.38 and a beta of 3.37.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $99.25, for a total transaction of $496,250.00. Following the sale, the chief financial officer now owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Monday, June 3rd. The stock was 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 owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the completion of the sale, the insider now directly owns 490,814 shares in the company, valued at $76,051,629.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,496,236 shares of company stock valued at $314,460,885. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds have recently bought and sold shares of the stock. Ridgewood Investments LLC purchased a new stake in Carvana during the 2nd quarter worth $32,000. Summit Securities Group LLC grew its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the last quarter. Fifth Third Bancorp lifted its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Carvana during the second quarter valued at $51,000. Finally, GAMMA Investing LLC lifted its position in Carvana by 127.9% in the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the last quarter. Hedge funds and other 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.