Carvana’s (CVNA) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reissued their neutral rating on shares of Carvana (NYSE:CVNA) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $250.00 price objective on the stock.

A number of other research firms have also recently weighed in on CVNA. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Citigroup raised shares of Carvana from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $277.00 in a research note on Wednesday, January 8th. Piper Sandler raised their target price 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. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $330.00 target price on shares of Carvana in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Carvana Trading Up 2.7 %

NYSE CVNA opened at $262.85 on Thursday. The firm’s fifty day moving average is $230.62 and its two-hundred day moving average is $197.33. Carvana has a one year low of $46.38 and a one year high of $268.34. 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 firm has a market cap of $54.57 billion, a PE ratio of 26,311.01 and a beta of 3.37.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,845 shares of company stock valued at $30,742,656. Insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its holdings in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Carvana during the third quarter worth about $162,953,000. Lord Abbett & CO. LLC lifted its stake in shares of Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after acquiring an additional 503,824 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Carvana in the fourth quarter valued at about $60,866,000. Finally, Eagle Asset Management Inc. purchased a new stake in Carvana during the 3rd quarter worth approximately $50,531,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.