Carvana (NYSE:CVNA) Price Target Raised to $350.00

Carvana (NYSE:CVNA) had its price objective increased by JPMorgan Chase & Co. from $300.00 to $350.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CVNA has been the subject of several other reports. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $277.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upped their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stephens restated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research note on Thursday, January 2nd. Finally, Evercore ISI increased their price objective on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $244.88.

Carvana Price Performance

Shares of Carvana stock opened at $247.76 on Friday. The firm has a fifty day simple moving average of $230.58 and a 200-day simple moving average of $194.69. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana has a 1-year low of $40.21 and a 1-year high of $268.34. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 24,800.30 and a beta of 3.38.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total value of $4,835,600.00. Following the completion of the transaction, the chief financial officer now owns 170,732 shares of the company’s stock, valued at $41,279,582.96. The trade was a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory B. Sullivan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now directly owns 53,407 shares of the company’s stock, valued at approximately $12,550,645. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,845 shares of company stock worth $34,252,056. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Quent Capital LLC bought a new position in Carvana in the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana during the third quarter worth about $32,000. ORG Wealth Partners LLC bought a new stake in shares of Carvana during the fourth quarter worth about $34,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carvana during the third quarter worth about $40,000. 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.