Carvana (NYSE:CVNA) Earns Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Carvana (NYSE:CVNA) in a report released on Wednesday morning, Benzinga reports. Wedbush currently has a $120.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $130.00 to $150.00 and gave the stock an overweight rating in a report on Monday, June 10th. Evercore ISI raised their price objective on Carvana from $111.00 to $118.00 and gave the company an in-line rating in a research note on Thursday, June 20th. Royal Bank of Canada upped their target price on Carvana from $90.00 to $130.00 and gave the company a sector perform rating in a research report on Thursday, May 2nd. Robert W. Baird raised their price target on shares of Carvana from $65.00 to $110.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and upped their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $87.29.

Carvana Stock Down 3.1 %

CVNA opened at $128.72 on Wednesday. Carvana has a 52-week low of $23.43 and a 52-week high of $136.92. The company has a 50 day moving average of $107.74 and a two-hundred day moving average of $78.46. The company has a market cap of $26.07 billion, a P/E ratio of 56.46 and a beta of 3.29.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. Research analysts anticipate that Carvana will post -0.75 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $86.75, for a total value of $433,750.00. Following the sale, the vice president now directly owns 62,514 shares in the company, valued at $5,423,089.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the sale, the vice president now owns 62,514 shares in the company, valued at $5,423,089.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total value of $9,522,750.00. Following the transaction, the insider now owns 787,500 shares of the company’s stock, valued at $99,988,875. The disclosure for this sale can be found here. Insiders sold 1,801,829 shares of company stock worth $193,562,233 in the last 90 days. 17.12% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in Carvana in the 4th quarter valued at approximately $29,000. Plato Investment Management Ltd acquired a new stake in Carvana in the 1st quarter valued at approximately $55,000. Parallel Advisors LLC increased its stake in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the period. Tidemark LLC bought a new stake in Carvana during the fourth quarter worth approximately $50,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Carvana during the 3rd quarter valued at $64,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.