Carvana (NYSE:CVNA) Given “Outperform” Rating at William Blair

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

Other research analysts have also issued research reports about the company. Needham & Company LLC boosted their price objective on Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada upped their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI increased their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average price target of $252.82.

Carvana Price Performance

Shares of CVNA stock traded down $45.26 during mid-day trading on Thursday, reaching $236.56. The stock had a trading volume of 7,819,467 shares, compared to its average volume of 3,822,197. Carvana has a 12-month low of $48.15 and a 12-month high of $292.84. The company has a market cap of $49.12 billion, a P/E ratio of 23,727.93 and a beta of 3.37. The business has a 50-day simple moving average of $234.84 and a 200 day simple moving average of $206.90. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. On average, sell-side analysts anticipate that Carvana will post 0.87 earnings per share for the current year.

Insider Activity at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction 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 sale, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,629 shares of company stock worth $44,833,799. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several large investors have recently bought and sold shares of the company. Raymond James & Associates grew its stake in Carvana by 28.8% during the third quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock worth $2,364,000 after purchasing an additional 3,033 shares during the period. Sequoia Financial Advisors LLC grew its stake in Carvana by 2.9% in the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after acquiring an additional 175 shares during the period. Signaturefd LLC boosted its position in shares of Carvana by 30.9% during the third quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock valued at $321,000 after buying an additional 435 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Carvana by 16.7% during the third quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock valued at $5,313,000 after buying an additional 4,372 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in Carvana during the third quarter worth $1,443,000. 56.71% of the stock is currently 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.