Carvana (NYSE:CVNA) Price Target Raised to $182.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price objective increased by Evercore ISI from $178.00 to $182.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an in-line rating on the stock.

Several other analysts have also recently issued reports on CVNA. Robert W. Baird started coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 target price on the stock. Jefferies Financial Group upped their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday. Piper Sandler upped their target price on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley upped their target price on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, DA Davidson upped their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $177.88.

Carvana Stock Up 3.1 %

Shares of CVNA stock opened at $197.35 on Tuesday. The stock has a market cap of $39.98 billion, a P/E ratio of 86.56 and a beta of 3.44. Carvana has a 52 week low of $25.09 and a 52 week high of $198.09. 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 company’s fifty day simple moving average is $163.94 and its two-hundred day simple moving average is $130.27.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Analysts predict that Carvana will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $128.81, for a total value of $9,660,750.00. Following the transaction, the insider now directly owns 1,715,814 shares in the company, valued at $221,014,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $128.81, for a total transaction of $9,660,750.00. Following the transaction, the insider now directly owns 1,715,814 shares in the company, valued at approximately $221,014,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 30,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider now owns 328,329 shares in the company, valued at approximately $57,457,575. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,759,366 shares of company stock worth $445,990,909 in the last three months. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Carvana by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after acquiring an additional 266,972 shares in the last quarter. 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 valued at $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP boosted its stake in Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after acquiring an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake 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 acquiring an additional 323,153 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.