Carvana (NYSE:CVNA) Reaches New 12-Month High – Should You Buy?

Shares of Carvana Co. (NYSE:CVNA) reached a new 52-week high on Tuesday . The company traded as high as $288.30 and last traded at $286.57, with a volume of 31301 shares traded. The stock had previously closed at $285.33.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday. Piper Sandler lifted their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Carvana Trading Down 12.0 %

The business has a fifty day moving average of $234.84 and a 200-day moving average of $206.90. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts anticipate that Carvana Co. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,629 shares of company stock valued at $44,833,799 over the last three months. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after acquiring an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC purchased a new position in Carvana during the 3rd quarter valued at about $162,953,000. Norges Bank purchased a new position in Carvana during the 4th quarter valued at about $179,364,000. Vanguard Group Inc. grew its stake in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after acquiring an additional 610,234 shares in the last quarter. Finally, Castle Hook Partners LP purchased a new position in Carvana during the 4th quarter valued at about $116,020,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.