Carvana’s (CVNA) Overweight Rating Reaffirmed at Stephens

Carvana (NYSE:CVNA)‘s stock had its “overweight” rating reaffirmed by Stephens in a report issued on Thursday,Benzinga reports. They presently have a $300.00 price objective on the stock. Stephens’ price objective suggests a potential upside of 15.96% from the stock’s current price.

CVNA has been the subject of a number of other research reports. Evercore ISI increased their target price on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $330.00 price target on shares of Carvana in a research note on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $244.88.

Carvana Price Performance

Shares of CVNA stock opened at $258.71 on Thursday. The stock has a fifty day simple moving average of $230.46 and a two-hundred day simple moving average of $196.87. Carvana has a twelve month low of $46.38 and a twelve month high of $268.34. The stock has a market capitalization of $53.72 billion, a price-to-earnings ratio of 25,807.61 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Insider Activity at Carvana

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction 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 Carvana stock in a transaction dated 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 owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,845 shares of company stock valued at $30,742,656. 17.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently modified their holdings of CVNA. Fidelis Capital Partners LLC grew its position in shares of Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares in the last quarter. Forum Financial Management LP boosted its stake in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Carvana by 0.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,817 shares of the company’s stock valued at $5,657,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.