Carvana (NYSE:CVNA) Price Target Increased to $110.00 by Analysts at Morgan Stanley

Carvana (NYSE:CVNA) had its target price increased by Morgan Stanley from $75.00 to $110.00 in a report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages also recently commented on CVNA. Evercore ISI lifted their target price on shares of Carvana from $135.00 to $140.00 and gave the stock an in-line rating in a report on Tuesday, July 16th. JMP Securities reaffirmed a market outperform rating and set a $150.00 target price on shares of Carvana in a report on Wednesday, July 10th. William Blair reaffirmed an outperform rating on shares of Carvana in a report on Thursday, May 2nd. Needham & Company LLC lifted their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a buy rating in a report on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a sector perform rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $140.27.

Carvana Price Performance

CVNA stock traded down $6.31 during midday trading on Thursday, hitting $140.21. The company’s stock had a trading volume of 2,730,477 shares, compared to its average volume of 5,520,010. The company’s fifty day moving average price is $119.99 and its 200 day moving average price is $91.51. Carvana has a twelve month low of $25.09 and a twelve month high of $154.00. The stock has a market capitalization of $28.40 billion, a P/E ratio of 60.52 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. Equities analysts expect that Carvana will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,917,500 shares in the company, valued at approximately $365,942,025. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $145.00, for a total value of $2,175,000.00. Following the sale, the insider now directly owns 114,124 shares of the company’s stock, valued at approximately $16,547,980. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider now directly owns 2,917,500 shares in the company, valued at $365,942,025. The disclosure for this sale can be found here. Insiders sold a total of 2,512,096 shares of company stock worth $303,420,439 in the last three months. 17.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Blue Trust Inc. bought a new position in Carvana during the fourth quarter worth $29,000. Ridgewood Investments LLC bought a new position in Carvana during the second quarter worth $32,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Summit Securities Group LLC boosted its stake in 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 in the last quarter. Finally, Fifth Third Bancorp boosted its stake in 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 in the last quarter. 56.71% of the stock is owned by institutional investors.

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.