Carvana (NYSE:CVNA) Shares Gap Up to $125.70

Shares of Carvana Co. (NYSE:CVNAGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $125.70, but opened at $131.50. Carvana shares last traded at $134.75, with a volume of 741,432 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVNA shares. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their target price for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Royal Bank of Canada upped their price target on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Robert W. Baird boosted their price target on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, JMP Securities lifted their price objective on Carvana from $135.00 to $150.00 and gave the company a “market outperform” rating in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.27.

Read Our Latest Stock Analysis on Carvana

Carvana Stock Performance

The stock has a 50-day moving average of $114.39 and a two-hundred day moving average of $82.20. The company has a market cap of $27.29 billion, a P/E ratio of 58.84 and a beta of 3.37.

Carvana (NYSE:CVNAGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. As a group, sell-side analysts forecast that Carvana Co. will post -0.75 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $125.72, for a total transaction of $9,429,000.00. Following the completion of the sale, the insider now owns 337,500 shares of the company’s stock, valued at $42,430,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $125.72, for a total value of $9,429,000.00. Following the sale, the insider now directly owns 337,500 shares of the company’s stock, valued at $42,430,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 68,556 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $102.74, for a total value of $7,043,443.44. Following the transaction, the insider now directly owns 186,397 shares of the company’s stock, valued at approximately $19,150,427.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,073,946 shares of company stock valued at $231,481,556. Insiders own 17.18% of the company’s stock.

Institutional Trading of Carvana

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Carvana by 127.9% during the second 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. Diversified Trust Co grew its stake in shares of Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after acquiring an additional 319 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Carvana by 21.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock valued at $163,000 after purchasing an additional 326 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

About Carvana

(Get Free Report)

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.

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