Carvana Co. (NYSE:CVNA) Short Interest Update

Carvana Co. (NYSE:CVNA) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 13,860,000 shares, a decrease of 10.1% from the August 15th total of 15,420,000 shares. Based on an average daily volume of 4,170,000 shares, the short-interest ratio is currently 3.3 days.

Carvana Price Performance

Shares of CVNA traded up $5.09 during trading hours on Wednesday, reaching $161.67. 6,365,216 shares of the stock traded hands, compared to its average volume of 5,115,030. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana has a 52-week low of $25.09 and a 52-week high of $167.75. The company’s 50-day moving average price is $140.93 and its two-hundred day moving average price is $113.71. The company has a market cap of $32.75 billion, a P/E ratio of 70.92 and a beta of 3.43.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts anticipate that Carvana will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Carvana news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the sale, the chief financial officer now owns 186,580 shares in the company, valued at approximately $23,150,846.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The disclosure for this sale can be found here. Insiders have sold a total of 2,481,866 shares of company stock valued at $338,115,484 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Carvana by 112.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,699 shares of the company’s stock valued at $90,000 after purchasing an additional 901 shares in the last quarter. Victory Capital Management Inc. raised its position in Carvana by 37.1% in the 4th quarter. Victory Capital Management Inc. now owns 12,680 shares of the company’s stock valued at $671,000 after purchasing an additional 3,430 shares during the last quarter. Teacher Retirement System of Texas raised its position in Carvana by 25.7% in the 4th quarter. Teacher Retirement System of Texas now owns 8,760 shares of the company’s stock valued at $464,000 after purchasing an additional 1,789 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Carvana in the 4th quarter valued at $203,000. Finally, Massachusetts Financial Services Co. MA increased its stake in Carvana by 64.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,541 shares of the company’s stock valued at $664,000 after buying an additional 4,906 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of analyst reports. BTIG Research lifted their price objective on Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC upped their price target on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective for the company. Morgan Stanley upped their price objective on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Carvana presently has an average rating of “Hold” and a consensus target price of $153.88.

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.