Carvana (NYSE:CVNA) Given Overweight Rating at Stephens

Stephens reissued their overweight rating on shares of Carvana (NYSE:CVNA) in a research note published on Thursday morning,Benzinga reports. They currently have a $300.00 price objective on the stock.

A number of other brokerages have also recently weighed in on CVNA. Wells Fargo & Company lifted their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Needham & Company LLC increased their price objective on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler upped their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citigroup lifted their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $229.18.

Carvana Stock Performance

CVNA stock opened at $199.56 on Thursday. Carvana has a 1 year low of $40.21 and a 1 year high of $268.34. The stock has a market capitalization of $41.43 billion, a price-to-earnings ratio of 19,975.98 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock’s fifty day moving average is $237.18 and its two-hundred day moving average is $179.97.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, research analysts predict that Carvana will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $180.49, for a total transaction of $18,049,000.00. Following the transaction, the insider now owns 38,658,131 shares in the company, valued at $6,977,406,064.19. This represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,241,908 shares of company stock worth $253,935,785 over the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Several large investors have recently made changes to their positions in the stock. Forum Financial Management LP grew its stake in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after buying an additional 76 shares during the last quarter. Empirical Asset Management LLC boosted its holdings in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after acquiring an additional 100 shares during the period. CIBC Asset Management Inc grew its position in shares of Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after purchasing an additional 115 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Carvana by 3.0% in the third quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock worth $726,000 after purchasing an additional 122 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in shares of Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares during the last quarter. 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.