Carvana (NYSE:CVNA – Get Free Report) had its price objective lifted by JMP Securities from $200.00 to $320.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 29.40% from the stock’s current price.
A number of other equities research analysts have also issued reports on CVNA. TD Cowen upped their price target on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group raised their price target on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. DA Davidson lifted their price target on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $208.88.
Check Out Our Latest Analysis on CVNA
Carvana Trading Up 19.3 %
Carvana (NYSE:CVNA – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, equities research analysts expect that Carvana will post 0.29 EPS for the current year.
Insider Transactions at Carvana
In related news, major shareholder Ernest C. Garcia II sold 15,814 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the sale, the insider now owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Ernest C. Garcia II sold 15,814 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the completion of the transaction, the insider now directly owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 30,000 shares of Carvana stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the transaction, the insider now owns 328,329 shares of the company’s stock, valued at $57,457,575. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,780,891 shares of company stock worth $465,902,485 in the last three months. Insiders own 17.12% of the company’s stock.
Institutional Trading of Carvana
Institutional investors and hedge funds have recently made changes to their positions in the company. Hanseatic Management Services Inc. increased its position in Carvana by 23.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 1,021 shares of the company’s stock valued at $178,000 after acquiring an additional 193 shares during the period. QRG Capital Management Inc. boosted its stake in Carvana by 16.2% during the third quarter. QRG Capital Management Inc. now owns 6,713 shares of the company’s stock worth $1,169,000 after acquiring an additional 935 shares in the last quarter. Forum Financial Management LP increased its position in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after buying an additional 76 shares in the last quarter. CacheTech Inc. acquired a new position in shares of Carvana during the third quarter worth approximately $224,000. Finally, New York State Common Retirement Fund raised its holdings in Carvana by 6.0% during the third quarter. New York State Common Retirement Fund now owns 156,901 shares of the company’s stock worth $27,318,000 after buying an additional 8,849 shares during the last quarter. Institutional investors 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.
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