Carvana (NYSE:CVNA) Given New $250.00 Price Target at Wells Fargo & Company

Carvana (NYSE:CVNA) had its price target raised by Wells Fargo & Company from $175.00 to $250.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Citigroup increased their price target on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. DA Davidson increased their price target on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Robert W. Baird started coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. Finally, BTIG Research increased their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $182.29.

Carvana Stock Up 1.2 %

Shares of Carvana stock opened at $202.53 on Wednesday. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana has a 1 year low of $25.09 and a 1 year high of $203.72. The firm’s 50-day moving average is $167.97 and its two-hundred day moving average is $133.19. The stock has a market cap of $41.03 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, research analysts expect that Carvana will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $128.81, for a total value of $9,660,750.00. Following the transaction, the insider now owns 1,715,814 shares in the company, valued at approximately $221,014,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $128.81, for a total transaction of $9,660,750.00. Following the sale, the insider now owns 1,715,814 shares of the company’s stock, valued at $221,014,001.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the sale, the chief financial officer now directly owns 180,609 shares in the company, valued at $26,394,199.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,955,891 shares of company stock worth $489,299,685. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Wellington Management Group LLP acquired a new stake in shares of Carvana during the 4th quarter worth approximately $4,703,000. PNC Financial Services Group Inc. grew its stake in Carvana by 63.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock valued at $131,000 after acquiring an additional 965 shares during the period. Diversified Trust Co grew its stake in Carvana by 53.3% in the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock valued at $763,000 after acquiring an additional 3,019 shares during the period. Principal Financial Group Inc. grew its stake in Carvana by 9.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock valued at $1,117,000 after acquiring an additional 1,068 shares during the period. Finally, HB Wealth Management LLC acquired a new stake in Carvana in the 1st quarter valued at $244,000. 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.