Carvana (NYSE:CVNA) Stock Price Up 8.3% – Still a Buy?

by · The Cerbat Gem

Carvana Co. (NYSE:CVNA – Get Free Report) shares shot up 8.3% during mid-day trading on Tuesday . The stock traded as high as $204.65 and last traded at $204.53. 1,789,699 shares changed hands during trading, a decline of 78% from the average session volume of 8,038,491 shares. The stock had previously closed at $188.85.

Analyst Ratings Changes

A number of brokerages recently commented on CVNA. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and increased their price target for the company from $195.00 to $277.00 in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Thursday, January 2nd. Jefferies Financial Group lifted their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.94.

Check Out Our Latest Report on Carvana

Carvana Stock Down 0.7 %

The company’s fifty day simple moving average is $235.93 and its 200-day simple moving average is $182.69. The firm has a market capitalization of $40.90 billion, a PE ratio of 19,719.72 and a beta of 3.38. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. On average, analysts forecast that Carvana Co. will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $190.47, for a total transaction of $19,047,000.00. Following the completion of the transaction, the insider now owns 38,258,131 shares of the company’s stock, valued at approximately $7,287,026,211.57. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,051,908 shares of company stock worth $218,824,285. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the company. FMR LLC raised its position in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the last quarter. Lingotto Investment Management LLP raised its holdings in Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the last quarter. State Street Corp lifted its stake in Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Carvana by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock worth $315,133,000 after purchasing an additional 131,059 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in shares of Carvana in the third quarter valued at approximately $162,953,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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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