Carvana (NYSE:CVNA) Price Target Raised to $415.00

Carvana (NYSE:CVNA) had its price objective hoisted by JPMorgan Chase & Co. from $350.00 to $415.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on the stock. Wedbush raised shares of Carvana to a “hold” rating in a report on Thursday, May 8th. Citigroup reissued an “outperform” rating on shares of Carvana in a report on Thursday. JMP Securities increased their price objective on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Thursday. Needham & Company LLC set a $500.00 price objective on shares of Carvana and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank Of Canada increased their price objective on shares of Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $379.65.

Carvana Stock Down 5.6%

CVNA opened at $368.39 on Thursday. The firm’s 50-day simple moving average is $333.58 and its 200-day simple moving average is $267.81. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.70 and a current ratio of 4.00. Carvana has a twelve month low of $118.50 and a twelve month high of $413.33. The firm has a market cap of $78.89 billion, a price-to-earnings ratio of 92.33, a PEG ratio of 1.39 and a beta of 3.57.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was up 41.9% compared to the same quarter last year. Equities research analysts anticipate that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ernest C. Garcia III sold 2,700 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $403.83, for a total value of $1,090,341.00. Following the sale, the chief executive officer directly owned 591,440 shares in the company, valued at $238,841,215.20. This trade represents a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $332.21, for a total transaction of $16,610,500.00. Following the completion of the sale, the insider owned 35,342,792 shares in the company, valued at $11,741,228,930.32. This represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,343,765 shares of company stock worth $780,120,744 over the last quarter. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp raised its position in shares of Carvana by 140.8% in the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company’s stock valued at $709,000 after acquiring an additional 1,982 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in Carvana during the 4th quarter worth approximately $51,091,000. Farther Finance Advisors LLC raised its holdings in Carvana by 333.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company’s stock worth $740,000 after buying an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Carvana during the 4th quarter worth approximately $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in Carvana during the 4th quarter worth approximately $415,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.