Carvana (NYSE:CVNA) Stock Price Up 4.1%

Shares of Carvana Co. (NYSE:CVNA) rose 4.1% during trading on Tuesday . The stock traded as high as $124.43 and last traded at $124.38. Approximately 2,609,265 shares traded hands during trading, a decline of 53% from the average daily volume of 5,562,625 shares. The stock had previously closed at $119.50.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVNA. Robert W. Baird boosted their target price on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research note on Thursday, May 2nd. TD Cowen boosted their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada upped their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $87.29.

Carvana Stock Up 6.5 %

The business’s fifty day moving average is $103.05 and its 200-day moving average is $76.21. The stock has a market capitalization of $25.78 billion, a PE ratio of 52.39 and a beta of 3.29.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. As a group, sell-side analysts anticipate that Carvana Co. will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the transaction, the insider now directly owns 3,312,500 shares in the company, valued at $265,430,625. The disclosure for this sale can be found here. Insiders have sold a total of 1,666,829 shares of company stock valued at $177,093,283 over the last ninety days. Corporate insiders own 17.18% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG increased its stake in Carvana by 132.6% during the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after purchasing an additional 331,892 shares during the last quarter. Deutsche Bank AG lifted its stake in Carvana by 13.8% during the third quarter. Deutsche Bank AG now owns 50,439 shares of the company’s stock valued at $2,117,000 after buying an additional 6,129 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Carvana by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 149,633 shares of the company’s stock valued at $6,282,000 after purchasing an additional 4,785 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Carvana in the third quarter worth approximately $64,000. Finally, Algert Global LLC lifted its position in shares of Carvana by 4.3% in the third quarter. Algert Global LLC now owns 37,250 shares of the company’s stock worth $1,564,000 after purchasing an additional 1,550 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

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.