Carvana (NYSE:CVNA) Trading 0.3% Higher

Shares of Carvana Co. (NYSE:CVNA) shot up 0.3% during trading on Thursday . The stock traded as high as $158.22 and last traded at $157.30. 751,869 shares were traded during mid-day trading, a decline of 86% from the average session volume of 5,339,276 shares. The stock had previously closed at $156.77.

Analyst Ratings Changes

Several research firms have recently issued reports on CVNA. Morgan Stanley raised their price target on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. Wedbush raised shares of Carvana to a “neutral” rating and raised their price target for the stock from $120.00 to $150.00 in a report on Monday. JPMorgan Chase & Co. increased their target price on Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Robert W. Baird began coverage on Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and a consensus target price of $148.40.

Carvana Price Performance

The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. The company has a market capitalization of $31.58 billion, a PE ratio of 68.99 and a beta of 3.37. The stock’s 50 day simple moving average is $129.85 and its 200-day simple moving average is $101.23.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the completion of the transaction, the insider now directly owns 490,814 shares of the company’s stock, valued at $76,051,629.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Ira J. Platt sold 664 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the transaction, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $154.95, for a total transaction of $15,495,000.00. Following the completion of the sale, the insider now directly owns 490,814 shares of the company’s stock, valued at $76,051,629.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,556,236 shares of company stock worth $321,111,285. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Carvana during the fourth quarter worth approximately $5,610,000. Federated Hermes Inc. acquired a new stake in Carvana during the 4th quarter worth approximately $864,000. Jennison Associates LLC purchased a new stake in shares of Carvana during the fourth quarter worth approximately $500,000. Illinois Municipal Retirement Fund purchased a new position in Carvana during the 4th quarter worth $880,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Carvana by 51.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 79,143 shares of the company’s stock worth $4,190,000 after acquiring an additional 26,729 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

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.