Carvana (NYSE:CVNA) Shares Up 0.3%

Carvana Co. (NYSE:CVNA) rose 0.3% on Thursday . The stock traded as high as $158.22 and last traded at $157.30. Approximately 751,869 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 5,339,276 shares. The stock had previously closed at $156.77.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird initiated coverage on shares of Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target for the company. Wedbush raised Carvana to a “neutral” rating and upped their price objective for the stock from $120.00 to $150.00 in a research report on Monday. DA Davidson upped their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Evercore ISI lowered their price objective on Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $148.40.

Carvana Price Performance

The company has a market capitalization of $31.58 billion, a P/E ratio of 68.99 and a beta of 3.37. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. The company has a fifty day moving average price of $129.85 and a 200 day moving average price of $101.23.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $99.25, for a total transaction of $496,250.00. Following the completion of the transaction, the chief financial officer now owns 192,552 shares of the company’s stock, valued at $19,110,786. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Mark W. Jenkins sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.25, for a total value of $496,250.00. Following the completion of the transaction, the chief financial officer now owns 192,552 shares in the company, valued at approximately $19,110,786. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the sale, the insider now owns 490,814 shares in the company, valued at $76,051,629.30. The disclosure for this sale can be found here. Insiders sold a total of 2,556,236 shares of company stock worth $321,111,285 in the last three months. 17.12% of the stock is owned by insiders.

Institutional Trading of Carvana

A number of hedge funds have recently bought and sold shares of CVNA. CWM LLC lifted its position in shares of Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares during the period. Parallel Advisors LLC boosted its position in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the period. American Century Companies Inc. grew its holdings in shares of Carvana by 2.6% during the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after buying an additional 241 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Carvana during the second quarter valued at $32,000. 56.71% of the stock is owned by hedge funds and other 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.