Carvana (NYSE:CVNA) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Carvana (NYSE:CVNA) in a research report released on Thursday, Benzinga reports.

A number of other analysts have also recently commented on CVNA. TD Cowen lifted their price target on Carvana from $58.00 to $70.00 and gave the stock a hold rating in a research report on Monday, April 29th. Jefferies Financial Group raised Carvana from an underperform rating to a hold rating and lifted their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. JMP Securities reiterated a market outperform rating and issued a $80.00 price target on shares of Carvana in a report on Wednesday, April 17th. William Blair raised shares of Carvana from a market perform rating to an outperform rating in a report on Friday, February 23rd. Finally, Evercore ISI cut their price objective on shares of Carvana from $78.00 to $77.00 and set an in-line rating on the stock in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $73.44.

Carvana Stock Up 4.4 %

Shares of NYSE CVNA traded up $5.17 during mid-day trading on Thursday, reaching $121.67. 8,528,363 shares of the company were exchanged, compared to its average volume of 5,397,261. Carvana has a 1 year low of $6.92 and a 1 year high of $124.20. The firm has a 50-day moving average of $81.81 and a 200 day moving average of $55.88. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) EPS. On average, equities analysts forecast that Carvana will post -3.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction 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 sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Carvana news, insider Ryan S. Keeton sold 8,250 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total transaction of $953,287.50. Following the completion of the transaction, the insider now owns 187,256 shares of the company’s stock, valued at $21,637,430.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the firm’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 transaction, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 442,233 shares of company stock worth $38,200,169. 17.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after buying an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of Carvana in the 3rd quarter valued at $22,906,000. UBS Group AG raised its position in Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after purchasing an additional 331,892 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after purchasing an additional 280,851 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.