JPMorgan Chase & Co. Boosts Carvana (NYSE:CVNA) Price Target to $230.00

Carvana (NYSE:CVNA) had its price target increased by equities researchers at JPMorgan Chase & Co. from $185.00 to $230.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 20.91% from the company’s current price.

Several other research firms have also recently commented on CVNA. TD Cowen boosted their price target on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded 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 note on Thursday, August 1st. Evercore ISI reaffirmed an “in-line” rating and issued a $178.00 price objective on shares of Carvana in a research note on Thursday, September 26th. Wedbush increased their target price on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Robert W. Baird assumed coverage on Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $164.28.

Carvana Stock Down 0.4 %

Shares of CVNA stock traded down $0.77 on Wednesday, reaching $190.22. 2,383,664 shares of the company’s stock traded hands, compared to its average volume of 4,958,047. The company has a market capitalization of $38.53 billion, a P/E ratio of 83.60 and a beta of 3.44. Carvana has a 12-month low of $25.09 and a 12-month high of $193.24. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The business’s 50 day moving average price is $153.92 and its two-hundred day moving average price is $123.62.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities analysts forecast that Carvana will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 37,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $136.63, for a total transaction of $5,123,625.00. Following the completion of the sale, the insider now owns 41,442,317 shares in the company, valued at $5,662,263,771.71. This trade represents a 0.00 % decrease in their position. 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 75,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $141.32, for a total value of $10,599,000.00. Following the completion of the sale, the insider now owns 2,465,814 shares in the company, valued at approximately $348,468,834.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 37,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $136.63, for a total transaction of $5,123,625.00. Following the transaction, the insider now owns 41,442,317 shares in the company, valued at $5,662,263,771.71. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,586,866 shares of company stock worth $389,372,534 over the last three months. 17.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after acquiring an additional 144 shares during the period. GAMMA Investing LLC raised its holdings in Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after purchasing an additional 150 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares during the period. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana in the 3rd quarter valued at about $32,000. Finally, American Century Companies Inc. boosted its stake in shares of Carvana by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds 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.