Carvana (NYSE:CVNA) Coverage Initiated at BTIG Research

BTIG Research began coverage on shares of Carvana (NYSE:CVNA) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $155.00 price target on the stock.

CVNA has been the subject of several other reports. Royal Bank of Canada boosted their price objective on Carvana from $90.00 to $130.00 and gave the company a sector perform rating in a research report on Thursday, May 2nd. TD Cowen boosted their price objective on Carvana from $58.00 to $70.00 and gave the company a hold rating in a research report on Monday, April 29th. Evercore ISI boosted their price objective on Carvana from $118.00 to $135.00 and gave the company an in-line rating in a research report on Tuesday, July 2nd. Wedbush reiterated a neutral rating and issued a $120.00 price objective on shares of Carvana in a research report on Wednesday, June 26th. Finally, Needham & Company LLC upgraded Carvana from a hold rating to a buy rating and set a $160.00 price objective for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $97.13.

Carvana Trading Up 4.9 %

Carvana stock opened at $136.24 on Friday. The firm has a market capitalization of $27.60 billion, a P/E ratio of 59.75 and a beta of 3.37. Carvana has a 1 year low of $25.09 and a 1 year high of $140.91. The business has a 50-day moving average of $115.83 and a 200-day moving average of $83.85.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Research analysts anticipate that Carvana will post -0.75 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total value of $428,550.00. Following the sale, the vice president now owns 56,872 shares in the company, valued at approximately $4,874,499.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total value of $428,550.00. Following the sale, the vice president now owns 56,872 shares in the company, valued at approximately $4,874,499.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 68,556 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $102.74, for a total value of $7,043,443.44. Following the completion of the sale, the insider now owns 186,397 shares in the company, valued at approximately $19,150,427.78. The disclosure for this sale can be found here. Insiders have sold a total of 2,173,946 shares of company stock worth $246,635,306 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares in the last quarter. Parallel Advisors LLC grew its holdings in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. GAMMA Investing LLC grew its holdings in Carvana by 127.9% in the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after buying an additional 257 shares in the last quarter. Diversified Trust Co grew its holdings in Carvana by 6.0% in the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after buying an additional 319 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Carvana by 21.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock valued at $163,000 after buying an additional 326 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.