Carvana (NYSE:CVNA) Reaches New 1-Year High at $131.41

Carvana Co. (NYSE:CVNA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $131.41 and last traded at $127.70, with a volume of 2144877 shares traded. The stock had previously closed at $128.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVNA shares. Wedbush reiterated a “neutral” rating and set a $120.00 price target on shares of Carvana in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. TD Cowen upped their price target on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Carvana presently has an average rating of “Hold” and a consensus target price of $87.29.

Carvana Trading Up 5.0 %

The business has a 50-day moving average price of $106.59 and a 200 day moving average price of $77.57. The stock has a market cap of $26.92 billion, a PE ratio of 58.28 and a beta of 3.29.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.72 billion. On average, equities analysts predict that Carvana Co. will post -0.75 earnings per share for the current year.

Insider Activity

In related news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the sale, the vice president now directly owns 62,514 shares in the company, valued at approximately $5,423,089.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the sale, the vice president now directly owns 62,514 shares in the company, valued at approximately $5,423,089.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $126.97, for a total value of $9,522,750.00. Following the sale, the insider now owns 787,500 shares in the company, valued at $99,988,875. The disclosure for this sale can be found here. Insiders have sold 1,801,829 shares of company stock valued at $193,562,233 in the last 90 days. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in Carvana in the 4th quarter worth about $29,000. Parallel Advisors LLC increased its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Tidemark LLC bought a new position in Carvana in the 4th quarter worth about $50,000. Plato Investment Management Ltd bought a new position in Carvana in the 1st quarter worth about $55,000. Finally, Headlands Technologies LLC bought a new position in Carvana in the 4th quarter worth about $87,000. 56.71% of the stock is currently owned by institutional investors.

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.