Carvana (NYSE:CVNA) Price Target Raised to $250.00 at Wells Fargo & Company

Carvana (NYSE:CVNA) had its price objective increased by Wells Fargo & Company from $175.00 to $250.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Citigroup boosted their price objective on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler upped their price target on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley upped their price target on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Evercore ISI upped their price target on Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.29.

Carvana Trading Up 0.0 %

Shares of Carvana stock opened at $197.37 on Wednesday. Carvana has a 52-week low of $25.09 and a 52-week high of $200.50. The stock’s 50-day simple moving average is $166.07 and its 200 day simple moving average is $131.53. The stock has a market capitalization of $39.98 billion, a P/E ratio of 86.57 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. As a group, research analysts anticipate that Carvana will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $130.52, for a total value of $9,789,000.00. Following the completion of the sale, the insider now owns 1,790,814 shares of the company’s stock, valued at $233,737,043.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the insider now owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $130.52, for a total value of $9,789,000.00. Following the sale, the insider now directly owns 1,790,814 shares of the company’s stock, valued at approximately $233,737,043.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,859,366 shares of company stock valued at $465,069,909 over the last quarter. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Institutional investors have recently made changes to their positions in the stock. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana during the third quarter valued at approximately $32,000. Ridgewood Investments LLC bought a new position in shares of Carvana during the second quarter valued at approximately $32,000. Summit Securities Group LLC raised its holdings in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Carvana during the second quarter valued at approximately $51,000. 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.