Carvana (NYSE:CVNA) Rating Increased to Sector Perform at Royal Bank of Canada

Carvana (NYSE:CVNA) was upgraded by investment analysts at Royal Bank of Canada to a “sector perform” rating in a research report issued on Monday. The brokerage presently has a $170.00 price target on the stock, up from their prior price target of $166.00. Royal Bank of Canada’s price objective would indicate a potential upside of 10.30% from the company’s current price.

Other analysts have also recently issued reports about the stock. Robert W. Baird assumed coverage on shares of Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JMP Securities upped their price target on Carvana from $150.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. DA Davidson lifted their price objective on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Carvana currently has an average rating of “Hold” and an average price target of $148.40.

Carvana Price Performance

CVNA opened at $154.12 on Monday. Carvana has a 1 year low of $25.09 and a 1 year high of $156.80. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11. The company’s 50 day simple moving average is $129.85 and its 200 day simple moving average is $101.23. The stock has a market capitalization of $31.22 billion, a PE ratio of 67.60 and a beta of 3.37.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the transaction, the insider now directly owns 690,814 shares in the company, valued at approximately $102,710,225.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the sale, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,456,236 shares of company stock valued at $305,616,285. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVNA. CWM LLC grew its position in shares of Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in Carvana by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after purchasing an additional 182 shares during the period. Parallel Advisors LLC increased its stake in 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 purchasing an additional 194 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Carvana by 2.6% during the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after purchasing an additional 241 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Carvana in the 2nd quarter worth about $32,000. 56.71% of the stock is currently owned by institutional investors.

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.