Carvana (NYSE:CVNA) Trading Up 2.9%

Carvana Co. (NYSE:CVNA)’s share price was up 2.9% during trading on Tuesday . The company traded as high as $139.35 and last traded at $139.24. Approximately 1,373,504 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 5,516,480 shares. The stock had previously closed at $135.34.

Wall Street Analysts Forecast Growth

CVNA has been the subject of a number of research reports. DA Davidson boosted their target price on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Evercore ISI increased their price objective on shares of Carvana from $135.00 to $140.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 16th. TD Cowen lifted their target price on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $120.00 price objective on shares of Carvana in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has a consensus rating of “Hold” and an average price target of $143.60.

Carvana Stock Up 2.7 %

The company has a market capitalization of $28.15 billion, a PE ratio of 61.07 and a beta of 3.37. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11. The firm has a fifty day simple moving average of $121.08 and a 200-day simple moving average of $93.52.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Thomas Taira sold 68,556 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the sale, the insider now directly owns 186,397 shares of the company’s stock, valued at approximately $19,150,427.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now owns 359,370 shares in the company, valued at $53,905,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,505,166 shares of company stock worth $304,071,485. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Blue Trust Inc. bought a new stake in shares of Carvana in the 4th quarter worth approximately $29,000. Ridgewood Investments LLC bought a new stake in Carvana in the second quarter valued at $32,000. Parallel Advisors LLC boosted its holdings in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the period. Summit Securities Group LLC grew its position in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.