Carvana Co. (NYSE:CVNA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Carvana Co. (NYSE:CVNA) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $244.88.

Several equities research analysts recently weighed in on CVNA shares. Wells Fargo & Company decreased their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Citigroup raised Carvana from a “neutral” rating to a “buy” rating and lifted their target price for the company from $195.00 to $277.00 in a report on Wednesday, January 8th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Carvana in a report on Monday, December 16th. JPMorgan Chase & Co. lifted their target price on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group lifted their target price on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd.

Carvana Trading Down 0.6 %

Shares of CVNA opened at $256.08 on Thursday. The business has a 50-day moving average of $230.46 and a 200 day moving average of $196.87. Carvana has a fifty-two week low of $43.87 and a fifty-two week high of $268.34. The firm has a market cap of $53.17 billion, a P/E ratio of 25,633.83 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Insider Buying and Selling at Carvana

In other news, Director Ira J. Platt sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the transaction, the director now directly owns 5,227 shares of the company’s stock, valued at approximately $1,276,956.10. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total value of $2,550,700.00. Following the transaction, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,845 shares of company stock worth $30,742,656. 17.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently made changes to their positions in CVNA. Smartleaf Asset Management LLC grew its stake in Carvana by 80.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 576 shares of the company’s stock worth $121,000 after purchasing an additional 256 shares during the period. Metis Global Partners LLC purchased a new stake in Carvana in the fourth quarter worth $321,000. West Michigan Advisors LLC purchased a new stake in Carvana in the fourth quarter worth $509,000. Versor Investments LP purchased a new stake in Carvana in the fourth quarter worth $4,646,000. Finally, Proficio Capital Partners LLC purchased a new stake in Carvana in the fourth quarter worth $23,655,000. 56.71% of the stock is 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.