Carvana (NYSE:CVNA) PT Raised to $110.00

Carvana (NYSE:CVNA) had its price objective raised by Morgan Stanley from $75.00 to $110.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities research analysts have also recently weighed in on CVNA. Wedbush restated a neutral rating and issued a $120.00 price objective on shares of Carvana in a research report on Monday, July 29th. Royal Bank of Canada upped their price objective on Carvana from $90.00 to $130.00 and gave the stock a sector perform rating in a report on Thursday, May 2nd. BTIG Research initiated coverage on Carvana in a research note on Friday, July 12th. They issued a buy rating and a $155.00 target price for the company. William Blair reaffirmed an outperform rating on shares of Carvana in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company raised Carvana from an equal weight rating to an overweight rating and boosted their price objective for the stock from $77.00 to $175.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana has an average rating of Hold and a consensus price target of $143.60.

Carvana Stock Down 6.4 %

CVNA opened at $137.20 on Thursday. The firm has a market cap of $27.79 billion, a price-to-earnings ratio of 60.18 and a beta of 3.37. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11. The firm’s 50-day simple moving average is $120.56 and its 200-day simple moving average is $92.87. Carvana has a twelve month low of $25.09 and a twelve month high of $154.00.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $126.97, for a total value of $9,522,750.00. Following the completion of the sale, the insider now owns 787,500 shares in the company, valued at $99,988,875. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $120.90, for a total value of $604,500.00. Following the sale, the director now owns 58,407 shares in the company, valued at approximately $7,061,406.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total transaction of $9,522,750.00. Following the transaction, the insider now directly owns 787,500 shares of the company’s stock, valued at $99,988,875. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,435,166 shares of company stock valued at $294,375,485. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Vanguard Group Inc. raised its stake in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Carvana by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock valued at $44,040,000 after buying an additional 53,318 shares during the period. Blue Trust Inc. acquired a new stake in Carvana during the fourth quarter worth approximately $29,000. Rafferty Asset Management LLC increased its stake in Carvana by 38.6% during the 4th quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after acquiring an additional 12,193 shares during the period. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its holdings in Carvana by 17.6% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after acquiring an additional 75,000 shares in 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.