Carvana Co. (NYSE:CVNA) Receives $148.40 Average Price Target from Analysts

Carvana Co. (NYSE:CVNA) has received a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $148.40.

Several brokerages recently issued reports on CVNA. Robert W. Baird assumed coverage on Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. Needham & Company LLC boosted their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and raised their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. BTIG Research upped their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Piper Sandler increased their target price on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Carvana Trading Down 5.5 %

NYSE CVNA opened at $133.41 on Monday. The firm’s 50 day moving average price is $138.77 and its two-hundred day moving average price is $110.29. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 58.51 and a beta of 3.43. Carvana has a twelve month low of $25.09 and a twelve month high of $159.85. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $149.16, for a total value of $14,916,000.00. Following the completion of the sale, the insider now owns 41,033,131 shares in the company, valued at approximately $6,120,501,819.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $149.16, for a total value of $14,916,000.00. Following the completion of the transaction, the insider now owns 41,033,131 shares in the company, valued at approximately $6,120,501,819.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $110.25, for a total transaction of $6,615,000.00. Following the completion of the transaction, the insider now directly owns 1,357,500 shares of the company’s stock, valued at approximately $149,664,375. The disclosure for this sale can be found here. Insiders have sold a total of 2,600,422 shares of company stock valued at $345,634,177 over the last three months. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in CVNA. CWM LLC grew its stake in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after acquiring an additional 182 shares during the last quarter. Parallel Advisors LLC increased its holdings in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. American Century Companies Inc. raised its position in Carvana by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Carvana in the second quarter worth $32,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.