Carvana (NYSE:CVNA) Receives Outperform Rating from William Blair

Carvana (NYSE:CVNA)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research note issued on Thursday, RTT News reports.

Several other equities analysts have also issued reports on the company. TD Cowen lifted their target price on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada lifted their target price on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday. Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and lifted their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Carvana in a research note on Wednesday, April 17th. Finally, Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.00.

Carvana Stock Up 30.3 %

Shares of CVNA stock traded up $26.38 on Thursday, hitting $113.47. The stock had a trading volume of 18,832,401 shares, compared to its average volume of 6,216,861. The business has a 50 day moving average price of $79.47 and a 200 day moving average price of $54.84. The company has a market cap of $22.91 billion, a PE ratio of 210.17 and a beta of 3.28. Carvana has a one year low of $6.92 and a one year high of $122.30.

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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm earned ($0.97) EPS. Carvana’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities research analysts expect that Carvana will post -3.32 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $85.38, for a total transaction of $4,269,000.00. Following the completion of the transaction, the insider now directly owns 3,212,500 shares of the company’s stock, valued at approximately $274,283,250. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 287,883 shares of company stock valued at $23,778,678. 17.12% of the stock is owned by company insiders.

Institutional Trading of Carvana

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Carvana by 39.0% during the fourth 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. Diversified Trust Co increased its position in shares of Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares in the last quarter. Arizona State Retirement System increased its position in shares of Carvana by 1.5% during the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after purchasing an additional 377 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Carvana by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after buying an additional 500 shares in the last quarter. Finally, Blue Trust Inc. purchased a new stake in Carvana in the 4th quarter valued at $29,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.