The target price for Carvana (NYSE:CVNA) increased to $175.00

Carvana (NYSE:CVNA – Free Report) Its price objective was upped by Wedbush from $150.00 to $175.00 in a research note on Monday morning, Benzinga reports. Wedbush currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on CVNA. TD Cowen lifted their price target on Carvana from $110.00 to $148.00 and gave the stock a hold rating in a research report on Thursday, August 1st. Morgan Stanley lifted their price target on Carvana from $75.00 to $110.00 and gave the stock an underweight rating in a research report on Thursday, August 1st. Stephens initiated coverage on Carvana in a research report on Thursday, September 12th. They issued an overweight rating and a $190.00 price target for the company. Needham & Company LLC raised their price objective on Carvana from $160.00 to $200.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada upgraded Carvana to a sector perform rating and lifted their price objective for the stock from $166.00 to $170.00 in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat , Carvana has an average rating of Hold and an average price target of $164.28.

Check out our latest Carvana review

Carvana stock performance

Shares of Carvana stock opened at $190.07 on Monday. The company has a current ratio of 3.11, a quick ratio of 2.02, and a debt-to-equity ratio of 47.20. The firm has a market cap of $38.50 billion, a P/E ratio of 83.36 and a beta of 3.44. The company has a fifty day simple moving average of $155.06 and a two hundred day simple moving average of $124.09. Carvana has a 12 month low of $25.09 and a 12 month high of $193.49.

Carvana (NYSE:CVNA – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities analysts forecast that Carvana will post 0.27 earnings per share for the current fiscal year.

Indoor activity at Carvana

In other Carvana news, majority shareholder Ernest C. Garcia II sold 37,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00. Following the transaction, the insider now directly owns 41,442,317 shares in the company, valued at $5,662,263,771.71. This represents a 0.00 % decrease in ownership of the shares. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, major shareholder Ernest C. Garcia II sold 37,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $136.63, for a total value of $5,123,625.00. Following the transaction, the insider now owns 41,442,317 shares of the company’s stock, valued at $5,662,263,771.71. This represents a 0.00 % decrease in ownership of the shares. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, insider Daniel J. Gill sold 30,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider now directly owns 328,329 shares in the company, valued at $57,457,575. This trade represents a 0.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,686,866 shares of company stock worth $407,421,534. Insiders own 17.12% of the company’s shares.

Institutional investors are weighing on Carvana

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its position in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the period. GAMMA Investing LLC boosted its holdings in Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after buying an additional 150 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in Carvana by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares during the last quarter. Sugarloaf Wealth Management LLC purchased a new position in Carvana in the third quarter valued at approximately $32,000. Finally, American Century Companies Inc. boosted its holdings in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s shares.

About the Caravan

(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.

Read more

Get news and reviews for Carvana Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Carvana and related companies with MarketBeat.com ‘s FREE daily email newsletter.