Carvana (NYSE:CVNA) Price Target Raised to $260.00 at DA Davidson

Carvana (NYSE:CVNA) had its price target lifted by DA Davidson from $220.00 to $260.00 in a research note released on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on CVNA. Robert W. Baird lifted their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Needham & Company LLC raised their price objective on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $265.06.

Carvana Trading Down 9.9 %

Shares of NYSE CVNA opened at $223.14 on Thursday. Carvana has a 1 year low of $49.38 and a 1 year high of $292.84. The stock has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. The firm has a 50-day moving average of $234.35 and a 200 day moving average of $208.28. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in CVNA. FMR LLC lifted its holdings in Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC purchased a new position in Carvana during the third quarter valued at approximately $162,953,000. Norges Bank purchased a new position in Carvana during the fourth quarter valued at approximately $179,364,000. Vanguard Group Inc. lifted its holdings in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Finally, Castle Hook Partners LP purchased a new position in Carvana during the fourth quarter valued at approximately $116,020,000. 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.