Carvana (NYSE:CVNA) Shares Up 1%

Carvana Co. (NYSE:CVNA) shares were up 1% during mid-day trading on Thursday . The company traded as high as $132.29 and last traded at $129.88. Approximately 982,751 shares were traded during trading, a decline of 82% from the average daily volume of 5,494,158 shares. The stock had previously closed at $128.64.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of analyst reports. BTIG Research increased their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler increased their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price target on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, JMP Securities lifted their target price on Carvana from $150.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $143.73.

Carvana Stock Up 1.9 %

The firm’s 50 day simple moving average is $123.58 and its 200-day simple moving average is $95.31. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20. The stock has a market capitalization of $27.53 billion, a price-to-earnings ratio of 59.61 and a beta of 3.37.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $131.19, for a total transaction of $9,839,250.00. Following the sale, the insider now owns 1,090,814 shares in the company, valued at approximately $143,103,888.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Carvana news, insider Thomas Taira sold 68,556 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the transaction, the insider now owns 186,397 shares of the company’s stock, valued at $19,150,427.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $131.19, for a total value of $9,839,250.00. Following the completion of the sale, the insider now directly owns 1,090,814 shares of the company’s stock, valued at $143,103,888.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,501,056 shares of company stock valued at $306,443,218. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

A number of large investors have recently added to or reduced their stakes in CVNA. CWM LLC boosted its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares during the period. Great Valley Advisor Group Inc. lifted its stake in shares of Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after buying an additional 182 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the period. American Century Companies Inc. grew its stake in Carvana by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after buying an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Carvana in the 2nd quarter valued at about $32,000. Institutional investors 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.