Carvana Co. (NYSE:CVNA) Receives $148.40 Consensus Price Target from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $148.40.

A number of equities analysts have weighed in on CVNA shares. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. DA Davidson upped their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JMP Securities lifted their price target on shares of Carvana from $150.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price objective on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird began coverage on Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 target price for the company.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $108.04, for a total transaction of $6,482,400.00. Following the completion of the sale, the insider now owns 1,477,500 shares of the company’s stock, valued at approximately $159,629,100. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $108.04, for a total value of $6,482,400.00. Following the sale, the insider now owns 1,477,500 shares of the company’s stock, valued at approximately $159,629,100. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the transaction, the insider now owns 690,814 shares of the company’s stock, valued at $102,710,225.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,660,422 shares of company stock valued at $352,116,577. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several hedge funds have recently bought and sold shares of CVNA. International Assets Investment Management LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $5,610,000. Truist Financial Corp boosted its position in Carvana by 62.0% during the 4th quarter. Truist Financial Corp now owns 8,495 shares of the company’s stock worth $450,000 after acquiring an additional 3,251 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Carvana by 112.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock worth $90,000 after purchasing an additional 901 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Carvana during the fourth quarter valued at $853,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Carvana by 37.1% during the fourth quarter. Victory Capital Management Inc. now owns 12,680 shares of the company’s stock valued at $671,000 after purchasing an additional 3,430 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Up 0.2 %

Shares of Carvana stock opened at $144.77 on Monday. Carvana has a twelve month low of $25.09 and a twelve month high of $159.85. The stock has a market cap of $29.33 billion, a price-to-earnings ratio of 63.50 and a beta of 3.37. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The company has a fifty day moving average price of $138.50 and a 200 day moving average price of $108.67.

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.