Carvana (NYSE:CVNA) Hits New 1-Year High at $137.49

Shares of Carvana Co. (NYSE:CVNA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $137.49 and last traded at $134.27, with a volume of 2861466 shares trading hands. The stock had previously closed at $129.93.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVNA. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Needham & Company LLC raised Carvana from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Wednesday. Evercore ISI increased their price objective on Carvana from $118.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Wells Fargo & Company lifted their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, JMP Securities restated a “market outperform” rating and issued a $150.00 price target on shares of Carvana in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Carvana presently has an average rating of “Hold” and an average target price of $97.13.

Carvana Stock Up 4.8 %

The stock has a market cap of $27.58 billion, a PE ratio of 60.24 and a beta of 3.37. The firm’s fifty day moving average price is $115.54 and its 200 day moving average price is $82.87.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, analysts anticipate that Carvana Co. will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the sale, the insider now owns 2,917,500 shares of the company’s stock, valued at $365,942,025. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the transaction, the chief financial officer now owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.43, for a total value of $9,407,250.00. Following the completion of the sale, the insider now owns 2,917,500 shares of the company’s stock, valued at $365,942,025. The disclosure for this sale can be found here. Insiders have sold a total of 2,098,946 shares of company stock valued at $236,826,806 in the last quarter. 17.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after purchasing an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the period. First Trust Advisors LP lifted its position in shares of Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Goodnow Investment Group LLC boosted its stake in shares of Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after purchasing an additional 23,140 shares during the period. Finally, Steadview Capital Management LLC grew its holdings in shares of Carvana by 15.6% in the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock worth $46,423,000 after purchasing an additional 118,500 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.