Carvana Co. (NYSE:CVNA) Director Sells $99,600.00 in Stock

Carvana Co. (NYSE:CVNA) Director Ira J. Platt sold 664 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the sale, the director now directly owns 30,227 shares in the company, valued at approximately $4,534,050. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Carvana Stock Up 2.9 %

Carvana stock opened at $155.93 on Friday. Carvana Co. has a fifty-two week low of $25.09 and a fifty-two week high of $156.18. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. The firm has a market capitalization of $31.59 billion, a price-to-earnings ratio of 68.39 and a beta of 3.37. The company’s 50 day simple moving average is $127.89 and its 200 day simple moving average is $99.26.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Vanguard Group Inc. raised its stake in shares of Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after purchasing an additional 53,318 shares during the last quarter. Rafferty Asset Management LLC grew its position in Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after purchasing an additional 12,193 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in Carvana by 17.6% in the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after buying an additional 75,000 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in Carvana in the 1st quarter valued at $1,783,000. 56.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CVNA. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Needham & Company LLC increased their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Wedbush reaffirmed a “neutral” rating and set a $120.00 price target on shares of Carvana in a research note on Monday, July 29th. Finally, JMP Securities lifted their price objective on Carvana from $150.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.73.

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.