Carvana Co. (NYSE:CVNA) Given Average Rating of “Moderate Buy” by Analysts

Carvana Co. (NYSE:CVNA) has received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $244.88.

Several equities research analysts have issued reports on CVNA shares. Wedbush raised their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Robert W. Baird increased their price objective on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada upgraded shares of Carvana from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $270.00 to $280.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction that occurred 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 sale, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,845 shares of company stock worth $33,077,056 over the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds have recently made changes to their positions in the stock. Prakash Investment Advisors LLC acquired a new stake in shares of Carvana during the fourth quarter worth approximately $602,000. ING Groep NV acquired a new stake in shares of Carvana during the fourth quarter worth approximately $19,055,000. Concurrent Investment Advisors LLC grew its position in shares of Carvana by 8.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 13,199 shares of the company’s stock worth $2,684,000 after buying an additional 1,078 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Carvana by 240.2% during the fourth quarter. Handelsbanken Fonder AB now owns 93,222 shares of the company’s stock worth $18,958,000 after buying an additional 65,822 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of Carvana during the fourth quarter worth approximately $3,518,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Price Performance

Carvana stock opened at $251.81 on Thursday. Carvana has a 12-month low of $41.75 and a 12-month high of $268.34. The stock has a market capitalization of $52.28 billion, a P/E ratio of 25,206.31 and a beta of 3.38. The firm’s 50-day moving average is $230.40 and its two-hundred day moving average is $195.56. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

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.