Carvana Co. (NYSE:CVNA) Sees Significant Increase in Short Interest

Carvana Co. (NYSE:CVNA) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 13,400,000 shares, an increase of 7.7% from the December 31st total of 12,440,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is presently 4.1 days.

Carvana Price Performance

Shares of NYSE CVNA traded up $6.52 during mid-day trading on Tuesday, hitting $258.15. 504,064 shares of the company’s stock traded hands, compared to its average volume of 4,046,038. The company has a market capitalization of $53.60 billion, a P/E ratio of 25,826.03 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company’s 50-day moving average is $230.40 and its two-hundred day moving average is $195.56. Carvana has a 1 year low of $41.75 and a 1 year high of $268.34.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVNA. Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. Wedbush boosted their target price on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Piper Sandler increased their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Evercore ISI lifted their target price on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $244.88.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the transaction, the chief financial officer now owns 189,761 shares in the company, valued at $48,402,338.27. This represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,845 shares of company stock valued at $33,077,056. Corporate insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quent Capital LLC bought a new position in shares of Carvana during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC increased its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Carvana in the 4th quarter valued at approximately $34,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana during the third quarter valued at $32,000. Finally, Versant Capital Management Inc purchased a new stake in Carvana during the 4th quarter valued at about $42,000. 56.71% of the stock is owned by institutional investors.

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.