Carvana (NYSE:CVNA) Earns Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Carvana (NYSE:CVNA) in a research report report published on Monday, Benzinga reports. They currently have a $200.00 price objective on the stock.

CVNA has been the topic of a number of other research reports. Needham & Company LLC upped their price target on shares of Carvana from $160.00 to $200.00 and gave the company a buy rating in a research note on Thursday, August 1st. Evercore ISI decreased their target price on Carvana from $150.00 to $142.00 and set an in-line rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a report on Friday, July 19th. Wedbush raised Carvana to a neutral rating and upped their price objective for the company from $120.00 to $150.00 in a report on Monday, August 19th. Finally, BTIG Research increased their price objective on Carvana from $155.00 to $188.00 and gave the stock a buy rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $148.40.

Carvana Trading Up 2.3 %

CVNA stock opened at $133.68 on Monday. Carvana has a one year low of $25.09 and a one year high of $159.85. The stock has a market cap of $27.66 billion, a price-to-earnings ratio of 58.63 and a beta of 3.43. The company has a fifty day moving average price of $139.17 and a two-hundred day moving average price of $111.46. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the transaction, the insider now owns 690,814 shares of the company’s stock, valued at $102,710,225.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the transaction, the insider now directly owns 690,814 shares in the company, valued at approximately $102,710,225.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the sale, the chief financial officer now owns 186,580 shares in the company, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Insiders have sold 2,690,422 shares of company stock valued at $359,827,927 over the last ninety days. 17.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in Carvana during the 2nd quarter worth about $32,000. Parallel Advisors LLC boosted its holdings in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the last quarter. Summit Securities Group LLC increased its position 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 during the period. Fifth Third Bancorp increased its position in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the period. Finally, Tidemark LLC bought a new position in Carvana during the 4th quarter worth approximately $50,000. Institutional investors 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.