Caravan Co. (NYSE:CVNA) receives a consensus price target of $143.73 from brokerages

Caravan Co. (NYSE:CVNA – Get Free Report ) has received a consensus rating of “Hold” from the seventeen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $143.73.

A number of analysts recently issued reports on CVNA shares. Wells Fargo & Company upgraded shares of Carvana from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $77.00 to $175.00 in a research note on Thursday, August 1. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Wedbush restated a “neutral” rating and issued a $120.00 target price on shares of Carvana in a research note on Monday, July 29th. TD Cowen raised their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, July 19th.

Read our latest report on Carvana

Insiders place their bets

In other Carvana news, majority shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $126.97, for a total transaction of $9,522,750.00. Following the sale, the insider now owns 787,500 shares in the company, valued at approximately $99,988,875. The transaction was disclosed in a filing with the SEC, which is available via this link. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total value of $9,522,750.00. Following the transaction, the insider now owns 787,500 shares in the company, valued at $99,988,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.27, for a total transaction of $7,156,200.00. Following the completion of the transaction, the insider now directly owns 2,617,500 shares in the company, valued at approximately $312,189,225. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,501,056 shares of company stock worth $306,443,218. Company insiders own 17.12% of the company’s shares.

Institutional investors are weighing on Carvana

A number of institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the period. Vanguard Group Inc. raised its holdings in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the period. Assenagon Asset Management SA bought a new position in shares of Carvana in the second quarter valued at $39,997,000. First Trust Advisors LP boosted its holdings in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after buying an additional 216,893 shares in the last quarter. Finally, Steadview Capital Management LLC boosted its holdings in shares of Carvana by 15.6% in the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock valued at $46,423,000 after purchasing an additional 118,500 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s shares.

Caravan Price Performance

Shares of CVNA opened at $135.92 on Thursday. The stock’s 50-day moving average is $123.58, and its two-hundred-day moving average is $95.65. Carvana has a 52 week low of $25.09 and a 52 week high of $154.00. The company has a market cap of $27.53 billion, a PE ratio of 59.61 and a beta of 3.37. The company has a quick ratio of 1.62, a current ratio of 3.11, and a debt-to-equity ratio of 47.20.

Carvana company profile

(Get a free report

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 the company’s 360-degree vehicle imaging technology; get financing and warranty coverage; vehicle purchase; and schedule delivery or pickup from your desktop or mobile devices.

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