Carvana (NYSE:CVNA) Reaches New 12-Month High at $91.60

Carvana Co. (NYSE:CVNAGet Free Report) reached a new 52-week high on Monday . The stock traded as high as $91.60 and last traded at $91.28, with a volume of 1029582 shares. The stock had previously closed at $85.94.

Analyst Ratings Changes

Several analysts have issued reports on CVNA shares. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $45.00 to $90.00 in a research note on Friday, March 8th. JPMorgan Chase & Co. raised Carvana from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $25.00 to $40.00 in a research note on Monday, December 4th. Wedbush raised their price objective on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and upped their target price for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.40.

Check Out Our Latest Research Report on Carvana

Carvana Stock Up 2.7 %

The stock has a market cap of $18.33 billion, a P/E ratio of 168.17 and a beta of 3.32. The firm’s 50-day moving average is $62.68 and its two-hundred day moving average is $48.09.

Carvana (NYSE:CVNAGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.97) EPS. Analysts anticipate that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 20,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the transaction, the insider now owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $89.00, for a total value of $1,780,000.00. Following the completion of the sale, the insider now directly owns 115,032 shares in the company, valued at $10,237,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $79.37, for a total transaction of $396,850.00. Following the completion of the transaction, the chief financial officer now owns 183,156 shares in the company, valued at $14,537,091.72. The disclosure for this sale can be found here. Insiders have sold a total of 59,515 shares of company stock worth $4,620,659 over the last three months. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVNA. Morgan Stanley increased its position in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after acquiring an additional 1,784,009 shares during the period. Vanguard Group Inc. increased its holdings in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the period. Spruce House Investment Management LLC raised its position in shares of Carvana by 52.7% during the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after buying an additional 3,450,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,346,602 shares of the company’s stock valued at $283,050,000 after buying an additional 165,379 shares during the period. Finally, FMR LLC grew its position in Carvana by 0.5% during the third quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after buying an additional 24,560 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Company Profile

(Get Free Report)

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.

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