Carvana (NYSE:CVNA) Now Covered by Analysts at Stephens

Stephens assumed coverage on shares of Carvana (NYSE:CVNA) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set an “overweight” rating and a $190.00 price target on the stock. Stephens’ price objective points to a potential upside of 33.90% from the company’s current price.

Several other brokerages have also recently commented on CVNA. DA Davidson boosted their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Robert W. Baird began coverage on shares of Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. TD Cowen lifted their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $151.00.

Carvana Price Performance

Shares of NYSE:CVNA opened at $141.90 on Thursday. Carvana has a 12 month low of $25.09 and a 12 month high of $159.85. The stock has a market cap of $29.36 billion, a price-to-earnings ratio of 62.24 and a beta of 3.43. The stock’s 50 day moving average price is $139.71 and its 200 day moving average price is $112.17. 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 Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were 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 $23,150,846.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 9,186 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $156.95, for a total value of $1,441,742.70. Following the completion of the sale, the insider now directly owns 41,433,131 shares in the company, valued at $6,502,929,910.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,561,866 shares of company stock valued at $346,609,884. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in Carvana during the 2nd quarter valued at $32,000. Parallel Advisors LLC raised its stake in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Summit Securities Group LLC raised its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp raised its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. Finally, Tidemark LLC acquired a new position in Carvana during the 4th quarter valued at $50,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.