Carvana (NYSE:CVNA) Hits New 12-Month High – Here’s Why

Carvana Co. (NYSE:CVNA) shares reached a new 52-week high during trading on Monday . The stock traded as high as $268.70 and last traded at $266.51, with a volume of 857957 shares trading hands. The stock had previously closed at $264.07.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVNA shares. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. Jefferies Financial Group upped their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. Stephens restated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.29.

Carvana Stock Down 1.2 %

The firm has a fifty day simple moving average of $231.25 and a 200-day simple moving average of $201.27. The company has a market capitalization of $55.64 billion, a PE ratio of 26,823.82 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,845 shares of company stock worth $30,742,656. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its holdings in shares of Carvana by 207.7% in the 3rd quarter. CWM LLC now owns 2,717 shares of the company’s stock valued at $473,000 after buying an additional 1,834 shares during the period. Empirical Asset Management LLC lifted its holdings in Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Carvana in the third quarter valued at approximately $219,000. nVerses Capital LLC grew its holdings in shares of Carvana by 33.3% during the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $139,000 after purchasing an additional 200 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares during the period. Institutional investors own 56.71% of the company’s stock.

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.