Carvana (NYSE:CVNA) Given “Neutral” Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Carvana (NYSE:CVNA) in a research report released on Wednesday morning, Benzinga reports. They currently have a $120.00 price target on the stock.

A number of other brokerages have also recently weighed in on CVNA. Evercore ISI upped their price target on shares of Carvana from $111.00 to $118.00 and gave the stock an in-line rating in a research report on Thursday, June 20th. TD Cowen upped their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a hold rating in a research report on Monday, April 29th. Wells Fargo & Company upped their price objective on shares of Carvana from $60.00 to $77.00 and gave the company an equal weight rating in a research report on Thursday, May 2nd. Needham & Company LLC reissued a hold rating on shares of Carvana in a research report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a sector perform rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Carvana currently has an average rating of Hold and a consensus target price of $87.29.

Carvana Trading Down 1.6 %

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

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Analysts forecast that Carvana will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $125.43, for a total value of $9,407,250.00. Following the transaction, the insider now owns 2,917,500 shares of the company’s stock, valued at $365,942,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $125.43, for a total value of $9,407,250.00. Following the transaction, the insider now owns 2,917,500 shares of the company’s stock, valued at $365,942,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ernest C. Garcia III sold 9,390 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now directly owns 861,458 shares in the company, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. Insiders have sold a total of 1,726,829 shares of company stock worth $184,039,483 over the last quarter. 17.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after buying an additional 53,318 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of Carvana during the fourth quarter valued at approximately $29,000. Rafferty Asset Management LLC raised its holdings in shares of Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after buying an additional 12,193 shares during the last quarter. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its holdings in shares of Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after buying an additional 75,000 shares during the last quarter. Institutional investors 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.