Carvana (NYSE:CVNA) Given Outperform Rating at William Blair

William Blair reissued their outperform rating on shares of Carvana (NYSE:CVNA) in a research report released on Thursday,RTT News reports.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada boosted their price objective on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Carvana in a research note on Thursday, February 6th. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Piper Sandler lifted their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Evercore ISI increased their price objective on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.00.

Carvana Stock Performance

Shares of Carvana stock opened at $248.03 on Thursday. The firm has a fifty day moving average of $234.85 and a two-hundred day moving average of $207.18. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. Carvana has a 52 week low of $48.15 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, equities research analysts predict that Carvana will post 0.87 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the transaction, the chief financial officer now owns 189,761 shares in the company, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,629 shares of company stock worth $44,833,799 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after buying an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in Carvana during the third quarter worth about $162,953,000. Norges Bank bought a new position in shares of Carvana in the fourth quarter worth about $179,364,000. Vanguard Group Inc. boosted its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Carvana during the 4th quarter valued at approximately $116,020,000. 56.71% of the stock is owned by institutional investors.

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.