Carvana (NYSE:CVNA) Hits New 52-Week High – Should You Buy?

Carvana Co. (NYSE:CVNA) reached a new 52-week high on Wednesday . The stock traded as high as $195.17 and last traded at $194.04, with a volume of 813128 shares changing hands. The stock had previously closed at $192.02.

Wall Street Analyst Weigh In

CVNA has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of Carvana in a research note on Monday, September 9th. Citigroup lifted their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. Piper Sandler boosted their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, DA Davidson increased their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $171.76.

Carvana Price Performance

The firm has a market capitalization of $38.75 billion, a PE ratio of 84.28 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock has a fifty day moving average price of $161.67 and a 200-day moving average price of $128.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Sell-side analysts forecast that Carvana Co. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the sale, the insider now owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the sale, the insider now directly owns 690,814 shares of the company’s stock, valued at $102,710,225.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,809,366 shares of company stock worth $446,050,909. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Vanguard Group Inc. boosted its stake in shares of Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Carvana during the 1st quarter valued at approximately $1,783,000. US Bancorp DE lifted its stake in shares of Carvana by 724.5% in the 1st quarter. US Bancorp DE now owns 5,549 shares of the company’s stock valued at $488,000 after purchasing an additional 4,876 shares during the period. Finally, CWM LLC boosted its holdings in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.