Carvana (NYSE:CVNA) Price Target Raised to $250.00 at Wells Fargo & Company

Carvana (NYSE:CVNA) had its price target upped by Wells Fargo & Company from $175.00 to $250.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 24.88% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and boosted their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. Piper Sandler boosted their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Evercore ISI boosted their target price on shares of Carvana from $178.00 to $182.00 and gave the stock an “in-line” rating in a report on Tuesday. Wedbush boosted their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, TD Cowen boosted their target price on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a 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’s stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $182.29.

Carvana Stock Up 1.4 %

NYSE:CVNA opened at $200.19 on Wednesday. Carvana has a 1-year low of $25.09 and a 1-year high of $203.24. The company has a 50-day moving average of $167.04 and a 200 day moving average of $132.01. The firm has a market cap of $40.55 billion, a PE ratio of 87.80 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. As a group, research analysts anticipate that Carvana will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $9,660,750.00. Following the transaction, the insider now owns 1,715,814 shares in the company, valued at approximately $221,014,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 value of $9,660,750.00. Following the transaction, the insider now owns 1,715,814 shares in the company, valued at approximately $221,014,001.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the transaction, the chief financial officer now owns 180,609 shares in the company, valued at approximately $26,394,199.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,840,077 shares of company stock worth $466,398,541. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently bought and sold shares of CVNA. Ridgewood Investments LLC purchased a new stake in Carvana in the 2nd quarter worth approximately $32,000. Sugarloaf Wealth Management LLC purchased a new stake in Carvana in the 3rd quarter worth approximately $32,000. Summit Securities Group LLC boosted its position in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp boosted its position in Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana in the 2nd quarter worth approximately $51,000. Hedge funds and other 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.