Carvana (NYSE:CVNA) Sets New 1-Year High – Time to Buy?

Carvana Co. (NYSE:CVNA) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $195.17 and last traded at $194.04, with a volume of 813128 shares trading hands. The stock had previously closed at $192.02.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVNA. Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley increased their price target on shares of Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Stephens started coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. Needham & Company LLC lifted their price target on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upgraded Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.76.

Carvana Trading Up 0.7 %

The firm has a fifty day moving average of $159.20 and a 200-day moving average of $127.21. 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 stock has a market capitalization of $39.18 billion, a price-to-earnings ratio of 84.20 and a beta of 3.44.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, equities analysts predict that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, Director Ira J. Platt sold 664 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the transaction, the director now directly owns 30,227 shares in the company, valued at approximately $4,534,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the sale, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $132.50, for a total value of $9,937,500.00. Following the completion of the transaction, the insider now directly owns 2,165,814 shares of the company’s stock, valued at $286,970,355. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,784,366 shares of company stock valued at $436,682,409 over the last 90 days. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in 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 buying an additional 655,603 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the period. Tidal Investments LLC acquired a new position in shares of Carvana in the 1st quarter valued at about $1,783,000. US Bancorp DE grew its position in shares of Carvana by 724.5% during the 1st quarter. US Bancorp DE now owns 5,549 shares of the company’s stock valued at $488,000 after buying an additional 4,876 shares during the last quarter. Finally, CWM LLC lifted its holdings in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the last quarter. 56.71% of the stock is 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.