Carvana (NYSE:CVNA) Price Target Cut to $275.00 by Analysts at Wells Fargo & Company

Carvana (NYSE:CVNA) had its price target trimmed by Wells Fargo & Company from $300.00 to $275.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Thursday, January 2nd. Finally, Bank of America upped their target price on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $230.65.

Carvana Stock Performance

Shares of NYSE CVNA opened at $188.84 on Monday. Carvana has a 52-week low of $40.21 and a 52-week high of $268.34. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 18,902.90 and a beta of 3.38. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock’s fifty day simple moving average is $236.34 and its 200 day simple moving average is $181.99.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Carvana will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the sale, the chief financial officer now directly owns 90,732 shares in the company, valued at $20,362,982.76. This represents a 69.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction dated Thursday, October 31st. The stock was 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 owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,151,908 shares of company stock valued at $237,894,285 over the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Nordea Investment Management AB bought a new stake in shares of Carvana in the fourth quarter valued at approximately $1,743,000. Central Pacific Bank Trust Division acquired a new position in Carvana during the 4th quarter valued at $609,000. Everence Capital Management Inc. bought a new stake in Carvana in the 4th quarter valued at $573,000. GAMMA Investing LLC grew its position in Carvana by 28.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $159,000 after purchasing an additional 176 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Carvana during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.