Carvana (NYSE:CVNA) PT Raised to $130.00 at Royal Bank of Canada

Carvana (NYSE:CVNA) had its price objective hoisted by Royal Bank of Canada from $90.00 to $130.00 in a research note published on Thursday, Benzinga reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group upgraded Carvana from an underperform rating to a hold rating and boosted their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Needham & Company LLC restated a hold rating on shares of Carvana in a research note on Thursday. William Blair upgraded Carvana from a market perform rating to an outperform rating in a research note on Friday, February 23rd. Evercore ISI cut their target price on Carvana from $78.00 to $77.00 and set an in-line rating on the stock in a research note on Tuesday, April 16th. Finally, Robert W. Baird boosted their target price on Carvana from $65.00 to $110.00 and gave the company a neutral rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Carvana has a consensus rating of Hold and a consensus target price of $73.44.

Carvana Trading Up 4.4 %

Shares of NYSE:CVNA traded up $5.17 during trading on Thursday, hitting $121.67. 8,528,363 shares of the company’s stock traded hands, compared to its average volume of 5,397,261. Carvana has a 52 week low of $6.92 and a 52 week high of $124.20. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. The company has a 50-day moving average price of $81.81 and a 200-day moving average price of $56.03.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.97) EPS. On average, analysts predict that Carvana will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the sale, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Neha Parikh bought 1,300 shares of Carvana stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the acquisition, the director now directly owns 58,495 shares of the company’s stock, valued at approximately $4,504,115. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,233 shares of company stock valued at $38,200,169. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in shares of Carvana in the 4th quarter valued at about $29,000. Hanseatic Management Services Inc. acquired a new position in shares of Carvana during the third quarter worth approximately $34,000. Parallel Advisors LLC lifted its holdings in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after buying an additional 1,103 shares in the last quarter. Finally, Tidemark LLC bought a new stake in shares of Carvana during the fourth quarter worth about $50,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.