Carvana (NYSE:CVNA) Stock Price Down 1.4%

Carvana Co. (NYSE:CVNA)’s stock price was down 1.4% during mid-day trading on Thursday . The company traded as low as $149.00 and last traded at $152.15. Approximately 768,702 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 5,251,643 shares. The stock had previously closed at $154.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Cowen increased their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price target for the stock from $166.00 to $170.00 in a report on Monday, August 19th. BTIG Research boosted their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised their target price on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $77.00 to $175.00 in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $148.40.

Carvana Price Performance

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 company has a market capitalization of $30.61 billion, a price-to-earnings ratio of 66.73 and a beta of 3.37. The company has a 50 day simple moving average of $135.64 and a 200 day simple moving average of $105.39.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $99.25, for a total transaction of $496,250.00. Following the completion of the transaction, the chief financial officer now owns 192,552 shares in the company, valued at approximately $19,110,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Ernest C. Garcia II sold 9,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $156.95, for a total value of $1,441,742.70. Following the completion of the sale, the insider now directly owns 41,433,131 shares of the company’s stock, valued at approximately $6,502,929,910.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $99.25, for a total value of $496,250.00. Following the transaction, the chief financial officer now owns 192,552 shares in the company, valued at $19,110,786. The disclosure for this sale can be found here. Insiders have sold 2,585,422 shares of company stock valued at $334,426,027 over the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Carvana by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $655,727,000 after buying an additional 2,112,463 shares during the period. Lingotto Investment Management LLP boosted its position in shares of Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after buying an additional 52,833 shares during the period. First Trust Advisors LP raised its position in Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after buying an additional 216,893 shares during the period. Finally, Goodnow Investment Group LLC lifted its stake in Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after acquiring an additional 23,140 shares in the last quarter. Institutional investors and hedge funds 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.