Carvana (NYSE:CVNA) Shares Up 6.7%

Carvana Co. (NYSE:CVNA) shot up 6.7% on Tuesday . The stock traded as high as $143.80 and last traded at $142.36. 2,119,733 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 5,445,217 shares. The stock had previously closed at $133.48.

Analyst Ratings Changes

Several brokerages recently weighed in on CVNA. DA Davidson increased their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Evercore ISI cut their price objective on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating on the stock in a report on Wednesday, August 7th. Wedbush restated a “neutral” rating and issued a $120.00 price objective on shares of Carvana in a report on Monday, July 29th. BTIG Research increased their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $143.73.

Carvana Stock Up 9.7 %

The firm’s 50-day moving average price is $124.27 and its 200 day moving average price is $96.68. The company has a market capitalization of $29.67 billion, a price-to-earnings ratio of 63.10 and a beta of 3.37. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 20,000 shares of Carvana stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the sale, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $117.02, for a total transaction of $7,021,200.00. Following the sale, the insider now directly owns 2,377,500 shares of the company’s stock, valued at approximately $278,215,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel J. Gill sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were 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 directly owns 359,370 shares in the company, valued at $53,905,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,453,234 shares of company stock valued at $300,874,177. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after buying an additional 53,318 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after buying an additional 12,193 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its holdings in Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after buying an additional 75,000 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in Carvana during the first quarter worth $1,783,000. 56.71% of the stock is owned by institutional investors.

Carvana Company Profile

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.