Carvana (NYSE:CVNA) Sets New 12-Month High – Still a Buy?

Shares of Carvana Co. (NYSE:CVNA) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $204.81 and last traded at $204.81, with a volume of 13682 shares trading hands. The stock had previously closed at $202.53.

Wall Street Analysts Forecast Growth

CVNA has been the topic of a number of recent analyst reports. Stephens initiated coverage on Carvana in a research note on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective on the stock. Bank of America lifted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wedbush increased their price objective on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and boosted their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $182.29.

Carvana Price Performance

The company has a 50-day moving average of $167.97 and a 200 day moving average of $133.56. The firm has a market cap of $41.53 billion, a P/E ratio of 88.83 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.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, sell-side analysts anticipate that Carvana Co. will post 0.29 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the completion of the sale, the insider now owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 15,814 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $201.16, for a total value of $3,181,144.24. Following the transaction, the insider now owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 41,163 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $200.11, for a total value of $8,237,127.93. Following the completion of the sale, the insider now owns 283,287 shares of the company’s stock, valued at approximately $56,688,561.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,880,891 shares of company stock worth $479,638,935 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of large investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. raised its position in shares of Carvana by 13.3% during the third quarter. First Trust Direct Indexing L.P. now owns 2,068 shares of the company’s stock worth $360,000 after acquiring an additional 243 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Carvana during the 3rd quarter worth about $259,000. Integrated Advisors Network LLC raised its holdings in Carvana by 89.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after purchasing an additional 24,996 shares during the last quarter. Geometric Wealth Advisors acquired a new position in Carvana during the 3rd quarter valued at about $3,933,000. Finally, Traynor Capital Management Inc. bought a new position in shares of Carvana in the 3rd quarter valued at about $1,681,000. 56.71% of the stock is currently 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.