Carvana (NYSE:CVNA) Stock Rating Reaffirmed by Wedbush

Carvana (NYSE:CVNA)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a note issued to investors on Monday, Benzinga reports. They currently have a $120.00 price objective on the stock. Wedbush’s price objective would indicate a potential downside of 11.11% from the stock’s previous close.

Several other research firms have also weighed in on CVNA. Evercore ISI increased their price objective on shares of Carvana from $135.00 to $140.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 16th. William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. TD Cowen upped their price objective on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. BTIG Research assumed coverage on Carvana in a research note on Friday, July 12th. They issued a “buy” rating and a $155.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.14.

Carvana Stock Performance

Shares of CVNA stock opened at $135.00 on Monday. The stock has a market capitalization of $27.35 billion, a price-to-earnings ratio of 59.14 and a beta of 3.37. Carvana has a one year low of $25.09 and a one year high of $147.25. The company’s 50-day simple moving average is $118.47 and its 200-day simple moving average is $89.66.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. As a group, research analysts forecast that Carvana will post -0.71 EPS for the current year.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 18,000 shares of Carvana stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total value of $2,071,260.00. Following the transaction, the chief operating officer now owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $83.03, for a total value of $4,151,500.00. Following the completion of the transaction, the insider now directly owns 3,112,500 shares in the company, valued at $258,430,875. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the completion of the sale, the chief operating officer now owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,501,446 shares of company stock worth $295,607,431. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Carvana in the 4th quarter valued at approximately $117,000. Raymond James Financial Services Advisors Inc. increased its position in Carvana by 2.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock worth $2,947,000 after acquiring an additional 1,125 shares during the period. Blue Trust Inc. acquired a new position in Carvana during the 4th quarter valued at $29,000. True North Advisors LLC bought a new stake in Carvana in the 4th quarter valued at $238,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Carvana during the fourth quarter valued at about $5,610,000. 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.