Carvana (NYSE:CVNA) Given New $260.00 Price Target at DA Davidson

Carvana (NYSE:CVNA) had its price target increased by analysts at DA Davidson from $220.00 to $260.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential upside of 8.81% from the company’s current price.

Several other brokerages have also recently issued reports on CVNA. Wells Fargo & Company lowered their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and raised their target price for the company from $195.00 to $277.00 in a report on Wednesday, January 8th. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Carvana Stock Down 15.2 %

Shares of CVNA stock traded down $42.86 during trading hours on Thursday, reaching $238.96. The company had a trading volume of 8,271,920 shares, compared to its average volume of 3,845,895. The company has a market capitalization of $49.62 billion, a P/E ratio of 23,897.50 and a beta of 3.37. Carvana has a twelve month low of $48.15 and a twelve month high of $292.84. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock’s fifty day simple moving average is $234.84 and its 200 day simple moving average is $206.90.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, sell-side analysts expect that Carvana will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 173,629 shares of company stock valued at $44,833,799 in the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quent Capital LLC purchased a new position in shares of Carvana in the fourth quarter worth $28,000. Global Retirement Partners LLC raised its stake in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the fourth quarter valued at $31,000. ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the fourth quarter valued at $34,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Carvana in the third quarter valued at $40,000. 56.71% of the stock is owned by hedge funds and other 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.