Carvana (NYSE:CVNA) had its price objective increased by Wells Fargo & Co from $115.00 to $135.00 in a research report released on Friday, The Fly reports. They currently have an overweight rating on the stock.
Several other equities research analysts have also recently weighed in on CVNA. Robert W. Baird upped their price target on Carvana from $90.00 to $105.00 in a research report on Monday, June 1st. JPMorgan Chase & Co. upped their price target on Carvana from $65.00 to $75.00 and gave the company a neutral rating in a research report on Tuesday, May 19th. They noted that the move was a valuation call. B. Riley decreased their price target on Carvana from $125.00 to $105.00 and set a buy rating on the stock in a research report on Tuesday, May 5th. Needham & Company LLC upped their price target on Carvana from $100.00 to $135.00 and gave the company a buy rating in a research report on Wednesday, June 10th. Finally, Cfra cut Carvana from a sell rating to a strong sell rating in a research report on Friday, March 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $94.25.
Shares of Carvana stock opened at $117.41 on Friday. Carvana has a 52-week low of $22.16 and a 52-week high of $131.86. The stock’s 50-day simple moving average is $106.15 and its 200 day simple moving average is $86.13. The stock has a market capitalization of $20.00 billion, a P/E ratio of -34.84 and a beta of 2.38. The company has a debt-to-equity ratio of 82.86, a quick ratio of 0.49 and a current ratio of 1.24.
In other news, major shareholder Ernest C. Garcia II bought 555,556 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was acquired at an average price of $45.00 per share, with a total value of $25,000,020.00. Following the completion of the purchase, the insider now directly owns 52,937,458 shares in the company, valued at $2,382,185,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.25% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Engrave Wealth Partners LLC purchased a new stake in Carvana in the fourth quarter worth approximately $35,000. Lenox Wealth Management Inc. bought a new stake in Carvana in the first quarter valued at approximately $51,000. Stephenson National Bank & Trust bought a new stake in Carvana in the fourth quarter valued at approximately $140,000. Trustcore Financial Services LLC bought a new stake in Carvana in the first quarter valued at approximately $163,000. Finally, Piedmont Investment Advisors Inc. lifted its position in Carvana by 15.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 3,900 shares of the company’s stock valued at $215,000 after purchasing an additional 514 shares during the last quarter. 52.20% of the stock is owned by institutional investors and hedge funds.
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 proprietary 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.
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