Carvana (NYSE:CVNA) Stock Price Down 1.4%

Carvana Co. (NYSE:CVNA)’s share price fell 1.4% during mid-day trading on Thursday . The company traded as low as $149.00 and last traded at $152.15. 768,702 shares traded hands during trading, a decline of 85% from the average session volume of 5,251,643 shares. The stock had previously closed at $154.31.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVNA. DA Davidson raised their target price on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Needham & Company LLC upped their target price on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wedbush upgraded Carvana to a “neutral” rating and lifted their price target for the stock from $120.00 to $150.00 in a report on Monday, August 19th. Finally, Morgan Stanley boosted their price target on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $148.40.

Carvana Trading Down 2.1 %

The company has a market capitalization of $30.61 billion, a price-to-earnings ratio of 66.73 and a beta of 3.37. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 1.62. The business’s 50-day moving average price is $135.64 and its two-hundred day moving average price is $105.39.

Insider Activity

In other news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $99.25, for a total transaction of $496,250.00. Following the completion of 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 through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $99.83, for a total transaction of $5,989,800.00. Following the transaction, the insider now directly owns 1,717,500 shares of the company’s stock, valued at approximately $171,458,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.25, for a total value of $496,250.00. Following the completion of the sale, the chief financial officer now directly owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,585,422 shares of company stock worth $334,426,027. 17.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Maven Securities LTD bought a new position in Carvana during the second quarter worth $270,000. Senator Investment Group LP bought a new stake in Carvana during the 2nd quarter valued at $63,767,000. Sylebra Capital LLC acquired a new position in shares of Carvana during the second quarter valued at about $67,686,000. Creative Planning raised its holdings in shares of Carvana by 34.4% in the 2nd quarter. Creative Planning now owns 15,296 shares of the company’s stock worth $1,969,000 after acquiring an additional 3,913 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Carvana by 135.8% during the 2nd quarter. Algert Global LLC now owns 64,095 shares of the company’s stock valued at $8,250,000 after purchasing an additional 36,915 shares during the last quarter. Institutional investors and hedge funds 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.