Carvana (NYSE:CVNA) Shares Gap Up to $133.54

Shares of Carvana Co. (NYSE:CVNA) gapped up prior to trading on Thursday . The stock had previously closed at $133.54, but opened at $137.12. Carvana shares last traded at $134.82, with a volume of 538,049 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVNA shares. Evercore ISI lowered their target price on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley increased their target price on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. Stephens assumed coverage on Carvana in a research report on Thursday. They set an “overweight” rating and a $190.00 price objective on the stock. Finally, Needham & Company LLC boosted their target price on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $151.00.

Carvana Stock Up 1.0 %

The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The company’s fifty day simple moving average is $139.71 and its 200 day simple moving average is $112.17. The firm has a market capitalization of $29.36 billion, a P/E ratio of 62.24 and a beta of 3.43.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $104.79, for a total value of $6,287,400.00. Following the sale, the insider now owns 1,177,500 shares in the company, valued at approximately $123,390,225. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the transaction, the director now owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. The disclosure for this sale can be found here. Insiders sold 2,561,866 shares of company stock worth $346,609,884 over the last three months. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently modified their holdings of the stock. Maven Securities LTD bought a new stake in shares of Carvana during the second quarter valued at approximately $270,000. Senator Investment Group LP purchased a new stake in Carvana during the 2nd quarter valued at $63,767,000. Sylebra Capital LLC purchased a new position in shares of Carvana in the second quarter worth $67,686,000. Creative Planning raised its stake in shares of Carvana by 34.4% in the second quarter. Creative Planning now owns 15,296 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,913 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Carvana by 135.8% during the second quarter. Algert Global LLC now owns 64,095 shares of the company’s stock valued at $8,250,000 after purchasing an additional 36,915 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.