Carvana (NYSE:CVNA) Given New $325.00 Price Target at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its price objective decreased by JPMorgan Chase & Co. from $365.00 to $325.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada upped their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company decreased their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 target price on shares of Carvana in a report on Friday, March 7th. Finally, Robert W. Baird upped their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.53.

Carvana Price Performance

Shares of NYSE CVNA opened at $204.40 on Thursday. The business has a 50 day simple moving average of $227.25 and a 200-day simple moving average of $217.50. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana has a twelve month low of $67.61 and a twelve month high of $292.84. The company has a market capitalization of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities research analysts expect that Carvana will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other news, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares in the company, valued at approximately $40,431,815.19. This trade represents a 13.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,377 shares of company stock worth $44,251,096 in the last ninety days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Charles Schwab Investment Management Inc. increased its position in shares of Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after buying an additional 39,089 shares during the period. Plato Investment Management Ltd raised its position in shares of Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after acquiring an additional 2,994 shares in the last quarter. Oak Thistle LLC lifted its stake in shares of Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after purchasing an additional 130,942 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Carvana by 33.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after purchasing an additional 95,497 shares during the period. 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.