Carvana (NYSE:CVNA) Trading Down 0.1%

Carvana Co. (NYSE:CVNA)’s share price fell 0.1% during mid-day trading on Tuesday . The company traded as low as $154.35 and last traded at $157.87. 403,710 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 5,290,521 shares. The stock had previously closed at $157.99.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. JMP Securities boosted their target price on Carvana from $150.00 to $200.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Wells Fargo & Company raised Carvana from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $77.00 to $175.00 in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Carvana has an average rating of “Hold” and a consensus target price of $148.40.

Carvana Stock Up 0.5 %

The company’s fifty day simple moving average is $133.81 and its 200 day simple moving average is $104.30. The company has a quick ratio of 1.62, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $32.16 billion, a PE ratio of 69.24 and a beta of 3.37.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $155.51, for a total value of $15,551,000.00. Following the sale, the insider now directly owns 290,814 shares of the company’s stock, valued at $45,224,485.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $155.51, for a total transaction of $15,551,000.00. Following the sale, the insider now owns 290,814 shares of the company’s stock, valued at $45,224,485.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira J. Platt sold 664 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. The disclosure for this sale can be found here. Insiders sold a total of 2,536,236 shares of company stock worth $323,674,685 in the last quarter. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new position in shares of Carvana in the 2nd quarter worth about $32,000. Summit Securities Group LLC increased its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its holdings in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in shares of Carvana in the second quarter worth approximately $51,000. Finally, GAMMA Investing LLC lifted its stake in shares of Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after buying an additional 257 shares in the last quarter. 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.