Carvana (NYSE:CVNA - Get Rating) had its price objective dropped by Deutsche Bank Aktiengesellschaft from $54.00 to $42.00 in a research note issued to investors on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft's target price would indicate a potential downside of 8.38% from the company's previous close.
Several other equities research analysts have also commented on CVNA. Piper Sandler dropped their price objective on shares of Carvana from $130.00 to $98.00 and set a "neutral" rating on the stock in a research note on Thursday, April 21st. Wedbush decreased their price objective on shares of Carvana from $90.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, July 5th. Evercore ISI cut their target price on shares of Carvana to $45.00 in a research report on Thursday, June 9th. Robert W. Baird cut their target price on shares of Carvana from $125.00 to $65.00 in a research report on Wednesday, May 11th. Finally, Jefferies Financial Group downgraded Carvana from a "buy" rating to a "hold" rating and lowered their price objective for the company from $150.00 to $40.00 in a research report on Friday, May 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Carvana presently has a consensus rating of "Hold" and an average price target of $79.76.
Carvana Trading Down 2.4 %
Shares of CVNA traded down $1.14 during trading hours on Monday, reaching $45.84. 576,088 shares of the company traded hands, compared to its average volume of 8,618,199. The company's fifty day moving average price is $26.16 and its two-hundred day moving average price is $77.79. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of -6.90 and a beta of 2.69. The company has a quick ratio of 0.47, a current ratio of 1.36 and a debt-to-equity ratio of 63.19. Carvana has a 12 month low of $19.45 and a 12 month high of $376.83.
Carvana (NYSE:CVNA - Get Rating) last announced its earnings results on Thursday, August 4th. The company reported ($2.35) earnings per share for the quarter, missing analysts' consensus estimates of ($1.75) by ($0.60). The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.99 billion. Carvana had a negative net margin of 4.24% and a negative return on equity of 144.51%. The company's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. Equities research analysts predict that Carvana will post -7.17 earnings per share for the current fiscal year.
Insider Activity at Carvana
In other news, insider Daniel J. Gill purchased 94,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $21.77 per share, for a total transaction of $2,046,380.00. Following the completion of the acquisition, the insider now owns 131,023 shares of the company's stock, valued at $2,852,370.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ryan S. Keeton bought 20,000 shares of the stock in a transaction on Monday, June 6th. The stock was bought at an average price of $25.02 per share, for a total transaction of $500,400.00. Following the completion of the acquisition, the insider now directly owns 54,269 shares in the company, valued at $1,357,810.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill bought 94,000 shares of the stock in a transaction on Wednesday, June 15th. The shares were bought at an average price of $21.77 per share, with a total value of $2,046,380.00. Following the acquisition, the insider now owns 131,023 shares of the company's stock, valued at $2,852,370.71. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,197,008 shares of company stock worth $47,538,049. Company insiders own 17.67% of the company's stock.
Institutional Trading of Carvana
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in shares of Carvana by 15.0% during the 2nd quarter. Baillie Gifford & Co. now owns 10,901,629 shares of the company's stock valued at $246,159,000 after purchasing an additional 1,418,746 shares during the last quarter. Tiger Global Management LLC increased its position in shares of Carvana by 17.5% in the 1st quarter. Tiger Global Management LLC now owns 8,531,177 shares of the company's stock valued at $1,017,684,000 after acquiring an additional 1,268,272 shares during the period. Vanguard Group Inc. increased its position in shares of Carvana by 46.8% in the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company's stock valued at $870,511,000 after acquiring an additional 2,325,545 shares during the period. Spruce House Investment Management LLC increased its position in shares of Carvana by 33.3% in the 1st quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company's stock valued at $596,450,000 after acquiring an additional 1,250,000 shares during the period. Finally, D1 Capital Partners L.P. increased its position in shares of Carvana by 77.7% in the 4th quarter. D1 Capital Partners L.P. now owns 4,211,082 shares of the company's stock valued at $976,087,000 after acquiring an additional 1,841,141 shares during the period.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.
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