Carvana (NYSE:CVNA) Given New $365.00 Price Target at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $350.00 to $365.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 107.37% from the stock’s previous close.

CVNA has been the subject of a number of other reports. Needham & Company LLC restated a “buy” rating and set a $340.00 price objective on shares of Carvana in a research note on Friday. Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird boosted their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Citigroup increased their price objective on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada raised their target price on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $265.94.

Carvana Stock Down 5.8 %

CVNA stock traded down $10.84 during mid-day trading on Friday, hitting $176.01. 4,628,885 shares of the company were exchanged, compared to its average volume of 4,187,316. The firm has a market cap of $37.52 billion, a P/E ratio of 110.48 and a beta of 3.56. Carvana has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm’s 50 day simple moving average is $232.69 and its 200 day simple moving average is $212.82.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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 business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. On average, sell-side analysts predict that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira J. Platt sold 25,000 shares of Carvana stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the completion of the transaction, the director now owns 5,227 shares in the company, valued at approximately $1,276,956.10. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,629 shares of company stock valued at $30,866,419 in the last three months. Corporate insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in CVNA. FMR LLC increased its position in Carvana by 90.8% in 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 during the period. Vanguard Group Inc. increased its holdings in Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the period. Lingotto Investment Management LLP raised its position in Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Durable Capital Partners LP lifted its holdings in Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after buying an additional 129,246 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after buying an additional 75,250 shares during the period. 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.