Carvana Co. (NYSE:CVNA) Short Interest Up 7.7% in January

Carvana Co. (NYSE:CVNAGet Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 13,400,000 shares, a growth of 7.7% from the December 31st total of 12,440,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is presently 4.1 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVNA. Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Thursday, January 2nd. Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Carvana in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $244.88.

Check Out Our Latest Stock Analysis on Carvana

Carvana Stock Performance

Shares of Carvana stock opened at $257.80 on Tuesday. Carvana has a 52 week low of $41.75 and a 52 week high of $268.34. The company has a market capitalization of $53.53 billion, a PE ratio of 25,805.31 and a beta of 3.37. The stock’s fifty day moving average is $230.40 and its two-hundred day moving average is $195.56. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at $48,402,338.27. This trade represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,845 shares of company stock valued at $33,077,056 in the last quarter. Company insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC purchased a new position in shares of Carvana during the fourth quarter valued at $28,000. Global Retirement Partners LLC increased its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana in the 3rd quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the 4th quarter worth approximately $34,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Carvana during the third quarter valued at approximately $40,000. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

(Get 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 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.

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