Carvana (NYSE:CVNA) Trading Up 2.6% – Time to Buy?

Carvana Co. (NYSE:CVNA) rose 2.6% on Monday . The company traded as high as $208.32 and last traded at $209.75. Approximately 1,519,575 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 4,513,710 shares. The stock had previously closed at $204.41.

Wall Street Analyst Weigh In

CVNA has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Citigroup boosted their price target on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Finally, Wedbush set a $250.00 price target on shares of Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.53.

Carvana Price Performance

The stock has a market capitalization of $44.29 billion, a PE ratio of 132.90 and a beta of 3.56. The business’s 50-day moving average price is $227.25 and its 200 day moving average price is $218.09. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS 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 analysts’ expectations of $3.32 billion. Research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now owns 179,673 shares of the company’s stock, valued at $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,377 shares of company stock valued at $44,251,096 over the last three months. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Carvana by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock worth $7,365,000 after purchasing an additional 1,430 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Carvana by 81.5% in the 4th quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock valued at $36,859,000 after acquiring an additional 81,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Carvana by 16.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock valued at $511,000 after acquiring an additional 348 shares during the period. Siemens Fonds Invest GmbH bought a new stake in Carvana in the fourth quarter valued at approximately $839,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Carvana during the 4th quarter valued at $36,527,000. 56.71% of the stock is currently owned by institutional investors.

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.