Carvana (NYSE:CVNA) Trading Up 6.8%

Carvana Co. (NYSE:CVNA)’s share price shot up 6.8% during mid-day trading on Wednesday . The stock traded as high as $136.42 and last traded at $135.39. 2,209,283 shares traded hands during trading, a decline of 59% from the average session volume of 5,432,512 shares. The stock had previously closed at $126.78.

Analyst Ratings Changes

Several equities research analysts recently commented on CVNA shares. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Royal Bank of Canada lifted their target price on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 2nd. Robert W. Baird lifted their target price on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC upgraded shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.14.

Carvana Trading Up 5.0 %

The company has a market cap of $26.97 billion, a price-to-earnings ratio of 58.39 and a beta of 3.37. The stock’s 50-day moving average is $119.26 and its 200-day moving average is $91.13.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, analysts predict that Carvana Co. will post -0.71 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 18,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the completion of the sale, the chief operating officer now owns 213,548 shares in the company, valued at approximately $24,572,968.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the sale, the insider now owns 114,124 shares in the company, valued at approximately $16,547,980. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the completion of the sale, the chief operating officer now owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,541,446 shares of company stock worth $305,764,181. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Institutional investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after purchasing an additional 182 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Carvana during the second quarter valued at about $32,000. Finally, GAMMA Investing LLC lifted its holdings in Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

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.