Ira J. Platt Sells 7,338 Shares of Carvana Co. (NYSE:CVNA) Stock

Carvana Co. (NYSE:CVNA) Director Ira J. Platt sold 7,338 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $141.62, for a total transaction of $1,039,207.56. Following the completion of the sale, the director now owns 30,891 shares in the company, valued at $4,374,783.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Carvana Stock Performance

Shares of NYSE CVNA opened at $155.93 on Friday. Carvana Co. has a one year low of $25.09 and a one year high of $156.18. The business’s 50-day moving average price is $127.89 and its two-hundred day moving average price is $99.26. 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 company has a market capitalization of $31.59 billion, a P/E ratio of 68.39 and a beta of 3.37.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. 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. Robert W. Baird assumed coverage on Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 target price for the company. Piper Sandler boosted their price objective on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, DA Davidson lifted their target price on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus price target of $143.73.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Carvana in the second quarter worth approximately $32,000. Summit Securities Group LLC boosted its holdings in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp increased its position in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Carvana during the second quarter valued at about $51,000. Finally, GAMMA Investing LLC lifted its position in shares of Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after buying an additional 257 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.