Carvana (NYSE:CVNA) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Carvana (NYSE:CVNA) in a research report sent to investors on Wednesday morning, Benzinga reports.

CVNA has been the subject of several other research reports. Jefferies Financial Group upgraded Carvana from an underperform rating to a hold rating and increased their price target for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Evercore ISI raised their target price on Carvana from $111.00 to $118.00 and gave the stock an in-line rating in a research note on Thursday, June 20th. Wells Fargo & Company raised their target price on Carvana from $60.00 to $77.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. Robert W. Baird raised their target price on Carvana from $65.00 to $110.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Finally, William Blair restated an outperform rating on shares of Carvana in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $87.29.

Carvana Price Performance

Shares of Carvana stock opened at $126.57 on Wednesday. The firm has a market cap of $25.64 billion, a PE ratio of 55.51 and a beta of 3.29. Carvana has a 1 year low of $21.15 and a 1 year high of $131.41. The stock has a fifty day moving average price of $105.36 and a 200-day moving average price of $77.18.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, equities analysts anticipate that Carvana will post -0.75 EPS for the current fiscal year.

Insider Activity

In related news, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now directly owns 178,885 shares of the company’s stock, valued at approximately $14,833,144.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now directly owns 178,885 shares of the company’s stock, valued at approximately $14,833,144.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Taira sold 4,197 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the transaction, the insider now directly owns 164,827 shares in the company, valued at $13,654,268.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,726,829 shares of company stock worth $184,039,483. 17.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

A number of large investors have recently bought and sold shares of CVNA. UBS Group AG increased its stake in Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company’s stock worth $3,426,000 after purchasing an additional 331,892 shares during the period. Rhumbline Advisers increased its stake in Carvana by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 149,633 shares of the company’s stock worth $6,282,000 after purchasing an additional 4,785 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Carvana in the 3rd quarter worth approximately $64,000. Profund Advisors LLC purchased a new position in Carvana in the 3rd quarter worth approximately $732,000. Finally, 3G Capital Partners LP increased its stake in Carvana by 91.7% in the 3rd quarter. 3G Capital Partners LP now owns 115,000 shares of the company’s stock worth $4,828,000 after purchasing an additional 55,000 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.