Carvana (NYSE:CVNA) Trading 0.8% Higher

Carvana Co. (NYSE:CVNA)’s stock price shot up 0.8% on Wednesday . The company traded as high as $156.19 and last traded at $155.36. 449,210 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 5,358,459 shares. The stock had previously closed at $154.18.

Analysts Set New Price Targets

CVNA has been the subject of several recent analyst reports. Robert W. Baird started 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. JMP Securities boosted their target price on shares of Carvana from $150.00 to $200.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. DA Davidson boosted their price objective on Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. William Blair reiterated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Finally, Piper Sandler boosted their price target on Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $148.40.

Carvana Stock Up 4.4 %

The business’s 50 day simple moving average is $131.69 and its 200 day simple moving average is $101.98. 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 $32.37 billion, a PE ratio of 70.08 and a beta of 3.37.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $104.74, for a total value of $6,284,400.00. Following the sale, the insider now owns 1,897,500 shares in the company, valued at $198,744,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $104.74, for a total value of $6,284,400.00. Following the sale, the insider now directly owns 1,897,500 shares of the company’s stock, valued at approximately $198,744,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $155.51, for a total value of $15,551,000.00. Following the completion of the sale, the insider now directly owns 290,814 shares in the company, valued at approximately $45,224,485.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,596,236 shares of company stock worth $330,011,885. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Carvana by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after buying an additional 53,318 shares during the period. Rafferty Asset Management LLC grew its position in shares of Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after buying an additional 12,193 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in shares of Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after buying an additional 75,000 shares during the period. Finally, Tidal Investments LLC purchased a new position in Carvana in the first quarter worth approximately $1,783,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.