Carvana (NYSE:CVNA) Price Target Raised to $415.00

Carvana (NYSE:CVNA - Get Free Report) had its price target hoisted by investment analysts at Citigroup from $325.00 to $415.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 18.37% from the stock's current price.

CVNA has been the subject of a number of other research reports. Stephens increased their price objective on Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a research note on Monday. Wedbush upgraded shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley raised their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Royal Bank Of Canada upped their target price on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $303.59.

Carvana Trading Up 1.4%

Shares of CVNA stock traded up $4.69 during trading hours on Tuesday, hitting $350.61. 1,511,141 shares of the company were exchanged, compared to its average volume of 3,850,696. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. The company has a 50 day simple moving average of $310.23 and a two-hundred day simple moving average of $250.09. Carvana has a fifty-two week low of $118.50 and a fifty-two week high of $364.00. The firm has a market cap of $75.08 billion, a P/E ratio of 123.02, a P/E/G ratio of 1.39 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The firm's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. Equities analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In related news, CEO Ernest C. Garcia III sold 6,244 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $356.73, for a total value of $2,227,422.12. Following the completion of the sale, the chief executive officer owned 681,440 shares of the company's stock, valued at approximately $243,090,091.20. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $338.02, for a total value of $3,380,200.00. Following the completion of the transaction, the chief operating officer owned 126,855 shares of the company's stock, valued at $42,879,527.10. The trade was a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,406,961 shares of company stock valued at $453,477,396. 16.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in shares of Carvana by 265.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,697 shares of the company's stock worth $345,000 after purchasing an additional 1,233 shares in the last quarter. Victory Capital Management Inc. increased its stake in Carvana by 51.0% during the fourth quarter. Victory Capital Management Inc. now owns 37,845 shares of the company's stock worth $7,696,000 after acquiring an additional 12,774 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Carvana in the fourth quarter valued at about $240,000. M&T Bank Corp boosted its holdings in Carvana by 4.5% in the fourth quarter. M&T Bank Corp now owns 7,118 shares of the company's stock valued at $1,448,000 after purchasing an additional 309 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Carvana during the 4th quarter worth approximately $23,655,000. 56.71% of the stock is currently owned by hedge funds and other 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.