Carvana’s (CVNA) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of Carvana (NYSE:CVNA) in a report published on Thursday morning,Benzinga reports. The firm currently has a $300.00 target price on the stock.

Several other brokerages have also commented on CVNA. Jefferies Financial Group raised their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler boosted their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $277.00 in a report on Wednesday, January 8th. Evercore ISI raised their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird raised their price objective on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.29.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $262.85 on Thursday. The firm’s 50 day simple moving average is $230.62 and its 200-day simple moving average is $197.33. The firm has a market cap of $54.57 billion, a PE ratio of 26,311.01 and a beta of 3.37. Carvana has a one year low of $46.38 and a one year high of $268.34. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now owns 151,029 shares in the company, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the transaction, the chief financial officer now owns 219,962 shares in the company, valued at $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,845 shares of company stock worth $30,742,656 in the last ninety days. Company insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quent Capital LLC purchased a new position in shares of Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the 4th quarter valued at $34,000. Versant Capital Management Inc acquired a new position in Carvana during the 4th quarter worth about $42,000. Finally, Venturi Wealth Management LLC grew its position in Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock valued at $46,000 after acquiring an additional 99 shares in the last quarter. 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.