Carvana (NYSE:CVNA) Hits New 52-Week High at $159.97

Carvana Co. (NYSE:CVNA) shares hit a new 52-week high on Wednesday . The stock traded as high as $159.97 and last traded at $159.04, with a volume of 667895 shares trading hands. The stock had previously closed at $156.58.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. DA Davidson raised 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. BTIG Research lifted their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Robert W. Baird started coverage on shares of Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Carvana has an average rating of “Hold” and an average price target of $153.88.

Carvana Stock Up 1.7 %

The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The stock has a market capitalization of $32.27 billion, a price-to-earnings ratio of 68.67 and a beta of 3.43. The business’s 50-day moving average is $140.31 and its two-hundred day moving average is $113.19.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities analysts anticipate that Carvana Co. will post 0.18 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 9,186 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $156.95, for a total transaction of $1,441,742.70. Following the completion of the transaction, the insider now owns 41,433,131 shares of the company’s stock, valued at approximately $6,502,929,910.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 9,186 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $156.95, for a total transaction of $1,441,742.70. Following the completion of the transaction, the insider now owns 41,433,131 shares of the company’s stock, valued at approximately $6,502,929,910.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction that occurred 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 transaction, 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. Insiders have sold 2,481,866 shares of company stock worth $338,115,484 in the last ninety days. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Carvana by 7.0% during the 4th 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. Rafferty Asset Management LLC raised its holdings in shares of Carvana by 38.6% in the 4th quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after purchasing an additional 12,193 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its holdings in shares of Carvana by 17.6% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Carvana in the 1st quarter valued at $1,783,000. Finally, US Bancorp DE raised its holdings in shares of Carvana by 724.5% in the 1st quarter. US Bancorp DE now owns 5,549 shares of the company’s stock valued at $488,000 after purchasing an additional 4,876 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.