Carvana (NYSE:CVNA) PT Raised to $195.00

Carvana (NYSE:CVNA) had its price objective increased by investment analysts at Citigroup from $125.00 to $195.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 8.23% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. BTIG Research raised their price target on Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird initiated coverage on Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target for the company. Needham & Company LLC raised their price target on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI restated an “in-line” rating and issued a $178.00 price target on shares of Carvana in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and an average target price of $157.33.

Carvana Stock Up 2.0 %

NYSE CVNA opened at $180.18 on Thursday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company has a market capitalization of $36.50 billion, a P/E ratio of 79.03 and a beta of 3.43. Carvana has a one year low of $25.09 and a one year high of $182.84. The stock has a 50 day moving average price of $150.65 and a 200-day moving average price of $120.99.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, equities analysts predict that Carvana will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the sale, the insider now owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the sale, the insider now owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.14, for a total value of $730,700.00. Following the sale, the chief financial officer now directly owns 180,609 shares of the company’s stock, valued at $26,394,199.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,636,866 shares of company stock valued at $390,626,784. 17.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. CWM LLC raised its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after acquiring an additional 182 shares in the last quarter. Parallel Advisors LLC raised its position 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 acquiring an additional 194 shares in the last quarter. American Century Companies Inc. increased its position in shares of Carvana by 2.6% in the second 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 in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Carvana in the second quarter valued at approximately $32,000. 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.