Carvana Co. (NYSE:CVNA) Short Interest Update

Carvana Co. (NYSE:CVNA) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 13,400,000 shares, an increase of 7.7% from the December 15th total of 12,440,000 shares. Based on an average daily volume of 3,270,000 shares, the days-to-cover ratio is currently 4.1 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVNA shares. Evercore ISI lifted their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $270.00 to $280.00 in a research report on Tuesday, January 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Carvana in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.94.

Insider Activity at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the completion of the sale, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This trade represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 551,908 shares of company stock worth $123,000,285 over the last ninety days. 17.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of Carvana by 2.6% during 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Carvana by 155.7% during the second quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock valued at $2,996,000 after purchasing an additional 14,174 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Carvana by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 33,805 shares of the company’s stock valued at $4,351,000 after purchasing an additional 1,136 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Carvana by 20.2% during the second quarter. Dimensional Fund Advisors LP now owns 353,664 shares of the company’s stock valued at $45,556,000 after purchasing an additional 59,482 shares in the last quarter. Finally, Edgestream Partners L.P. increased its stake in shares of Carvana by 29.4% during the second quarter. Edgestream Partners L.P. now owns 11,277 shares of the company’s stock valued at $1,452,000 after purchasing an additional 2,559 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Trading Down 0.6 %

CVNA stock traded down $1.33 during trading on Monday, reaching $230.59. The company had a trading volume of 3,102,589 shares, compared to its average volume of 3,796,350. Carvana has a 52 week low of $40.21 and a 52 week high of $268.34. The company has a market cap of $47.88 billion, a P/E ratio of 23,082.38 and a beta of 3.38. The business has a 50 day moving average of $231.78 and a 200 day moving average of $187.07. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company earned $0.23 earnings per share. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. As a group, sell-side analysts forecast that Carvana will post 0.88 earnings per share for the current fiscal year.

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.