Carvana (NYSE:CVNA) Shares Up 7.5%

Carvana Co. (NYSE:CVNA)’s share price shot up 7.5% on Tuesday . The company traded as high as $77.00 and last traded at $76.83. 2,870,716 shares changed hands during trading, a decline of 53% from the average session volume of 6,088,770 shares. The stock had previously closed at $71.44.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVNA. JPMorgan Chase & Co. upped their price target on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Wedbush reissued a “neutral” rating and issued a $80.00 price objective (up previously from $60.00) on shares of Carvana in a research note on Thursday. Evercore ISI dropped their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $45.00 to $90.00 in a research note on Friday, March 8th. Finally, Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.87.

Carvana Price Performance

The company’s 50-day moving average price is $76.83 and its two-hundred day moving average price is $53.39. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 143.56 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business posted ($0.97) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts expect that Carvana Co. will post -3.36 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the sale, the chief financial officer now directly owns 178,156 shares in the company, valued at $15,456,814.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the transaction, the chief financial officer now directly owns 178,156 shares of the company’s stock, valued at $15,456,814.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Neha Parikh bought 1,300 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were bought at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now owns 58,495 shares of the company’s stock, valued at $4,504,115. The disclosure for this purchase can be found here. Insiders sold a total of 187,883 shares of company stock worth $15,505,178 over the last three months. 17.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Blue Trust Inc. bought a new position in shares of Carvana in the fourth quarter valued at $29,000. Vanguard Group Inc. lifted its position in shares of Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Carvana during the third quarter valued at about $2,879,000. Charles Schwab Investment Management Inc. lifted its position in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Carvana during the third quarter valued at about $22,906,000. 56.71% of the stock is owned by institutional investors.

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.