Carvana (NYSE:CVNA) Shares Up 4% – Here’s What Happened

Shares of Carvana Co. (NYSE:CVNA) shot up 4% on Friday . The company traded as high as $192.98 and last traded at $192.81. 2,131,848 shares traded hands during trading, a decline of 45% from the average session volume of 3,841,689 shares. The stock had previously closed at $185.42.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVNA. Evercore ISI decreased their target price on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, March 11th. Wells Fargo & Company decreased their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “buy” rating and issued a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Carvana Trading Up 3.2 %

The business has a 50-day moving average price of $227.57 and a two-hundred day moving average price of $214.95. The stock has a market capitalization of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, analysts expect that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,784 shares of company stock worth $27,524,344 in the last ninety days. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Quent Capital LLC acquired a new position in Carvana in the 4th quarter worth about $28,000. Global Retirement Partners LLC increased its holdings in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in Carvana in the 4th quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in Carvana in the 4th quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new position in Carvana in the 4th quarter worth about $42,000. 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.