Carvana (NYSE:CVNA) Sets New 52-Week High at $177.21

Shares of Carvana Co. (NYSE:CVNA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $177.21 and last traded at $173.25, with a volume of 660784 shares changing hands. The stock had previously closed at $174.11.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price objective on shares of Carvana in a research report on Monday, September 9th. Needham & Company LLC increased their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI restated an “in-line” rating and set a $178.00 target price on shares of Carvana in a research note on Thursday, September 26th. Morgan Stanley increased their price target on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $155.12.

Carvana Price Performance

The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The stock has a fifty day simple moving average of $147.59 and a 200-day simple moving average of $119.53. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of 76.39 and a beta of 3.43.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, equities research analysts anticipate that Carvana Co. will post 0.27 EPS for the current year.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.51, for a total value of $17,051,000.00. Following the completion of the transaction, the insider now owns 39,458,131 shares in the company, valued at approximately $6,728,005,916.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.51, for a total transaction of $17,051,000.00. Following the completion of the transaction, the insider now directly owns 39,458,131 shares in the company, valued at $6,728,005,916.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 20,000 shares of Carvana stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the insider now owns 359,370 shares in the company, valued at approximately $53,905,500. The disclosure for this sale can be found here. Insiders have sold a total of 2,486,866 shares of company stock valued at $357,967,534 in the last ninety days. 17.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Carvana in the second quarter valued at approximately $37,728,000. Maven Securities LTD purchased a new stake in Carvana in the 2nd quarter valued at about $270,000. Senator Investment Group LP acquired a new position in Carvana in the second quarter valued at about $63,767,000. Sylebra Capital LLC acquired a new stake in shares of Carvana during the second quarter valued at about $67,686,000. Finally, Creative Planning increased its position in shares of Carvana by 34.4% during the second quarter. Creative Planning now owns 15,296 shares of the company’s stock valued at $1,969,000 after acquiring an additional 3,913 shares during the last quarter. Hedge funds and other 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.