Carvana (NYSE:CVNA) Given New $260.00 Price Target at DA Davidson

Carvana (NYSE:CVNA) had its price objective lifted by DA Davidson from $220.00 to $260.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also commented on CVNA. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Needham & Company LLC raised their target price on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Nine research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.00.

Carvana Trading Down 12.0 %

Shares of CVNA opened at $248.03 on Thursday. Carvana has a 1-year low of $48.15 and a 1-year high of $292.84. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm’s 50-day moving average price is $234.85 and its 200-day moving average price is $207.18. The firm has a market capitalization of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts anticipate that Carvana will post 0.87 EPS for the current year.

Insider Transactions at Carvana

In related news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,629 shares of company stock worth $44,833,799 over the last quarter. 17.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Raymond James & Associates lifted its stake in shares of Carvana by 28.8% in the 3rd quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock worth $2,364,000 after purchasing an additional 3,033 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Carvana by 2.9% during the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after buying an additional 175 shares during the last quarter. Signaturefd LLC raised its position in Carvana by 30.9% in the third quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock worth $321,000 after acquiring an additional 435 shares during the period. Private Advisor Group LLC boosted its stake in shares of Carvana by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock worth $5,313,000 after acquiring an additional 4,372 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Carvana during the 3rd quarter valued at $1,443,000. 56.71% of the stock is currently owned by hedge funds and other 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.