Carvana Co. (NYSE:CVNA – Get Free Report) has received a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $143.73.
Several equities research analysts recently issued reports on the stock. Evercore ISI reduced their target price on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC raised their price objective on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of Carvana in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd.
Check Out Our Latest Report on CVNA
Carvana Stock Performance
Insider Activity
In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 owns 359,370 shares in the company, valued at $53,905,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.25, for a total transaction of $496,250.00. Following the transaction, the chief financial officer now owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was 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 owns 359,370 shares of the company’s stock, valued at $53,905,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,453,234 shares of company stock valued at $300,874,177. 17.12% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Carvana
A number of large investors have recently modified their holdings of the business. CWM LLC boosted its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after acquiring an additional 182 shares during the period. Parallel Advisors LLC boosted its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. American Century Companies Inc. grew its holdings in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Carvana in the 2nd quarter valued at approximately $32,000. 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.
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