Carvana (NYSE:CVNA) Reaches New 1-Year High at $131.41

Shares of Carvana Co. (NYSE:CVNA) reached a new 52-week high on Wednesday . The stock traded as high as $131.41 and last traded at $127.70, with a volume of 2144877 shares. The stock had previously closed at $128.58.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CVNA shares. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. JMP Securities upped their price target on Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Friday, June 7th. Needham & Company LLC restated a “hold” rating on shares of Carvana in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Carvana has a consensus rating of “Hold” and an average target price of $87.29.

Carvana Stock Down 2.0 %

The business has a 50 day simple moving average of $104.21 and a two-hundred day simple moving average of $76.84. The firm has a market cap of $25.53 billion, a PE ratio of 57.14 and a beta of 3.29.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. Equities analysts forecast that Carvana Co. will post -0.75 earnings per share for the current year.

Insider Transactions at Carvana

In related news, insider Thomas Taira sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the insider now owns 161,397 shares of the company’s stock, valued at $19,367,640. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the sale, the vice president now directly owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Taira sold 25,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now directly owns 161,397 shares of the company’s stock, valued at approximately $19,367,640. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,726,829 shares of company stock valued at $184,039,483. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings 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 purchasing an additional 2,112,463 shares during the period. Morgan Stanley lifted its position in shares of Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. UBS Group AG lifted its position in shares of Carvana by 132.6% in the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after acquiring an additional 331,892 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.