JMP Securities Reiterates “Market Outperform” Rating for Carvana (NYSE:CVNA)

JMP Securities restated their market outperform rating on shares of Carvana (NYSE:CVNA) in a research report report published on Monday morning, Benzinga reports. They currently have a $200.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler boosted their price objective on Carvana from $105.00 to $151.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the company an underweight rating in a research note on Thursday, August 1st. Needham & Company LLC boosted their price objective on Carvana from $160.00 to $200.00 and gave the company a buy rating in a research note on Thursday, August 1st. DA Davidson boosted their price objective on Carvana from $110.00 to $155.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Finally, Robert W. Baird started coverage on Carvana in a research note on Thursday, August 1st. They issued a neutral rating and a $160.00 price objective on the stock. One equities research 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. According to MarketBeat, Carvana currently has a consensus rating of Hold and an average target price of $148.40.

Carvana Trading Up 1.5 %

NYSE CVNA opened at $135.44 on Monday. Carvana has a one year low of $25.09 and a one year high of $159.85. The business’s fifty day moving average is $138.99 and its 200-day moving average is $110.87. The stock has a market capitalization of $28.03 billion, a price-to-earnings ratio of 59.40 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the completion of the transaction, the chief financial officer now owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $110.25, for a total value of $6,615,000.00. Following the completion of the sale, the insider now owns 1,357,500 shares of the company’s stock, valued at $149,664,375. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the completion of the sale, the chief financial officer now directly owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,675,422 shares of company stock valued at $356,263,177. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD boosted its stake in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares in the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares in the last quarter. Sylebra Capital LLC purchased a new stake in Carvana in the second quarter worth approximately $67,686,000. Senator Investment Group LP purchased a new stake in Carvana in the second quarter worth approximately $63,767,000. Finally, Driehaus Capital Management LLC lifted its position in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the last quarter. Hedge funds and other 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.