Carvana Co. (NYSE:CVNA) Short Interest Update

Carvana Co. (NYSE:CVNA) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 13,400,000 shares, a growth of 7.7% from the December 31st total of 12,440,000 shares. Based on an average trading volume of 3,270,000 shares, the short-interest ratio is currently 4.1 days.

Insider Activity

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,845 shares of company stock worth $33,077,056 in the last ninety days. Company insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Quent Capital LLC acquired a new stake in shares of Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Sugarloaf Wealth Management LLC purchased a new position in Carvana during the 3rd quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new position in Carvana during the fourth quarter worth approximately $34,000. Finally, Capital Performance Advisors LLP purchased a new stake in Carvana in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Bank of America lifted 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. JPMorgan Chase & Co. upped their target price on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 target price on shares of Carvana in a research note on Tuesday, January 7th. Finally, Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $244.88.

Carvana Stock Up 2.6 %

Carvana stock traded up $6.52 during midday trading on Tuesday, reaching $258.15. The company’s stock had a trading volume of 504,064 shares, compared to its average volume of 4,046,038. The business has a 50-day simple moving average of $230.40 and a 200-day simple moving average of $195.56. The company has a market cap of $53.60 billion, a P/E ratio of 25,826.03 and a beta of 3.37. Carvana has a fifty-two week low of $41.75 and a fifty-two week high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

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.