Carvana (NYSE:CVNA) Shares Gap Up After Analyst Upgrade

Shares of Carvana Co. (NYSE:CVNA - Get Free Report) gapped up before the market opened on Tuesday after Piper Sandler raised their price target on the stock from $225.00 to $230.00. The stock had previously closed at $195.83, but opened at $204.10. Piper Sandler currently has an overweight rating on the stock. Carvana shares last traded at $214.09, with a volume of 455,364 shares.

Several other equities research analysts have also recently weighed in on the stock. Citigroup reduced their target price on shares of Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price target on shares of Carvana in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $253.88.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 330,810 shares of company stock worth $69,243,820 over the last ninety days. Insiders own 17.12% of the company's stock.

Institutional Trading of Carvana

A number of institutional investors have recently bought and sold shares of the business. Quent Capital LLC bought a new stake in shares of Carvana in the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC raised its holdings in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana during the 4th quarter valued at $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Carvana during the 4th quarter worth $34,000. Finally, Versant Capital Management Inc bought a new position in shares of Carvana in the fourth quarter worth $42,000. Institutional investors own 56.71% of the company's stock.

Carvana Stock Performance

The stock has a 50 day moving average of $204.82 and a 200 day moving average of $222.76. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $50.48 billion, a price-to-earnings ratio of 150.84 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data 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. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.