Carvana (NYSE:CVNA) Sets New 52-Week High at $137.49

Carvana Co. (NYSE:CVNA)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $137.49 and last traded at $134.27, with a volume of 2861466 shares trading hands. The stock had previously closed at $129.93.

Analysts Set New Price Targets

A number of research analysts recently commented on CVNA shares. JPMorgan Chase & Co. increased their target price on shares of Carvana from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JMP Securities restated a “market outperform” rating and set a $150.00 price objective on shares of Carvana in a research report on Wednesday. Evercore ISI increased their price objective on Carvana from $118.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company lifted their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, BTIG Research started coverage on shares of Carvana in a research note on Friday. They issued a “buy” rating and a $155.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $97.13.

Carvana Stock Performance

The company has a market capitalization of $27.58 billion, a price-to-earnings ratio of 60.24 and a beta of 3.37. The firm’s 50-day simple moving average is $115.54 and its 200-day simple moving average is $82.87.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Equities research analysts forecast that Carvana Co. will post -0.75 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $124.69, for a total value of $9,351,750.00. Following the completion of the transaction, the insider now directly owns 262,500 shares of the company’s stock, valued at $32,731,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $124.69, for a total transaction of $9,351,750.00. Following the transaction, the insider now directly owns 262,500 shares in the company, valued at approximately $32,731,125. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 26,930 shares of Carvana stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.08, for a total value of $3,368,404.40. Following the sale, the insider now directly owns 382,497 shares of the company’s stock, valued at $47,842,724.76. The disclosure for this sale can be found here. Insiders have sold a total of 2,098,946 shares of company stock worth $236,826,806 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Carvana by 127.9% during the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after purchasing an additional 257 shares during the last quarter. Hilltop National Bank bought a new stake in shares of Carvana during the second quarter worth about $68,000. Blue Trust Inc. acquired a new stake in Carvana in the fourth quarter valued at $29,000. Plato Investment Management Ltd acquired a new stake in Carvana during the 1st quarter valued at approximately $55,000. Finally, Parallel Advisors LLC raised its stake in Carvana by 39.0% during 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 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.