Carvana (NYSE:CVNA) Earns “Neutral” Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Carvana (NYSE:CVNA) in a research report report published on Wednesday, Benzinga reports. They currently have a $120.00 price objective on the stock.

A number of other research firms have also commented on CVNA. Royal Bank of Canada boosted their price target on shares of Carvana from $90.00 to $130.00 and gave the company a sector perform rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of Carvana from $60.00 to $77.00 and gave the company an equal weight rating in a research report on Thursday, May 2nd. TD Cowen boosted their price target on shares of Carvana from $58.00 to $70.00 and gave the company a hold rating in a research report on Monday, April 29th. JMP Securities boosted their price target on shares of Carvana from $135.00 to $150.00 and gave the company a market outperform rating in a research report on Friday, June 7th. Finally, Jefferies Financial Group upgraded shares of Carvana from an underperform rating to a hold rating and boosted their price target for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $87.29.

Carvana Stock Down 1.6 %

NYSE CVNA opened at $126.57 on Wednesday. The stock has a market cap of $25.64 billion, a P/E ratio of 55.51 and a beta of 3.29. The company’s 50-day simple moving average is $105.36 and its 200 day simple moving average is $77.18. Carvana has a twelve month low of $21.15 and a twelve month high of $131.41.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Research analysts anticipate that Carvana will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Thomas Taira sold 4,197 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the completion of the sale, the insider now directly owns 164,827 shares of the company’s stock, valued at $13,654,268.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Thomas Taira sold 4,197 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the completion of the sale, the insider now directly owns 164,827 shares of the company’s stock, valued at $13,654,268.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the sale, the insider now directly owns 2,917,500 shares of the company’s stock, valued at $365,942,025. The disclosure for this sale can be found here. Insiders sold a total of 1,726,829 shares of company stock valued at $184,039,483 over the last ninety days. Insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several large investors have recently bought and sold shares of the company. Cetera Advisors LLC bought a new stake in Carvana in the first quarter valued at approximately $461,000. Cetera Investment Advisers increased its stake in Carvana by 171.7% in the first quarter. Cetera Investment Advisers now owns 20,862 shares of the company’s stock valued at $1,834,000 after purchasing an additional 13,185 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Carvana in the first quarter valued at approximately $55,000. Tidal Investments LLC bought a new stake in Carvana in the first quarter valued at approximately $1,783,000. Finally, Motley Fool Asset Management LLC bought a new stake in Carvana in the first quarter valued at approximately $636,000. 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.