Carvana (NYSE:CVNA) Shares Up 0.8%

Carvana Co. (NYSE:CVNA) rose 0.8% during trading on Wednesday . The company traded as high as $156.19 and last traded at $155.36. Approximately 449,210 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 5,358,459 shares. The stock had previously closed at $154.18.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI reduced their price target on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird assumed coverage on Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Morgan Stanley increased their price objective on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC lifted their target price on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research 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. According to MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average price target of $148.40.

Carvana Stock Performance

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 stock’s 50-day moving average is $129.85 and its 200 day moving average is $101.23. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 68.14 and a beta of 3.37.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $105.62, for a total transaction of $6,337,200.00. Following the sale, the insider now owns 2,017,500 shares of the company’s stock, valued at $213,088,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Monday, June 3rd. The stock was 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 approximately $19,110,786. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $105.62, for a total transaction of $6,337,200.00. Following the completion of the sale, the insider now directly owns 2,017,500 shares in the company, valued at $213,088,350. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,456,236 shares of company stock worth $305,616,285. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. International Assets Investment Management LLC purchased a new stake in Carvana in the 4th quarter valued at approximately $5,610,000. Federated Hermes Inc. acquired a new stake in shares of Carvana during the fourth quarter valued at $864,000. Jennison Associates LLC acquired a new stake in shares of Carvana during the fourth quarter valued at $500,000. Illinois Municipal Retirement Fund purchased a new stake in Carvana during the 4th quarter worth about $880,000. Finally, State of New Jersey Common Pension Fund D raised its stake in Carvana by 51.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 79,143 shares of the company’s stock valued at $4,190,000 after purchasing an additional 26,729 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.