Carvana Co. (NYSE:CVNA)'s stock price rose 7.5% during trading on Friday after DA Davidson raised their price target on the stock from $214.00 to $275.00. DA Davidson currently has a neutral rating on the stock. Carvana traded as high as $295.77 and last traded at $283.50. Approximately 3,311,447 shares were traded during trading, an increase of 123% from the average daily volume of 1,487,222 shares. The stock had previously closed at $263.66.
Several other research analysts have also recently commented on the stock. Truist began coverage on shares of Carvana in a report on Tuesday, December 15th. They set a "buy" rating and a $314.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Carvana from $165.00 to $225.00 and gave the stock a "hold" rating in a research note on Thursday, November 5th. Oppenheimer assumed coverage on Carvana in a research report on Friday, October 30th. They set a "buy" rating and a $250.00 target price for the company. Robert W. Baird raised their price target on Carvana from $285.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 16th. Finally, Citigroup upped their price objective on shares of Carvana from $250.00 to $305.00 in a research report on Thursday, January 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of "Buy" and a consensus price target of $243.22.
In other news, major shareholder Ernest C. Garcia II sold 100 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $290.83, for a total value of $29,083.00. Following the completion of the sale, the insider now owns 100 shares in the company, valued at $29,083. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $307.86, for a total transaction of $3,078,600.00. Following the transaction, the chief financial officer now directly owns 33,516 shares in the company, valued at $10,318,235.76. The disclosure for this sale can be found here. Insiders have sold a total of 2,910,494 shares of company stock valued at $728,246,359 over the last three months. Corporate insiders own 12.25% of the company's stock.
Several institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Carvana in the third quarter valued at approximately $1,445,000. State of Wisconsin Investment Board boosted its position in Carvana by 338.3% in the fourth quarter. State of Wisconsin Investment Board now owns 32,092 shares of the company's stock worth $7,687,000 after purchasing an additional 24,770 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Carvana in the third quarter valued at about $9,845,000. California State Teachers Retirement System lifted its stake in Carvana by 2.5% in the third quarter. California State Teachers Retirement System now owns 96,482 shares of the company's stock valued at $21,521,000 after purchasing an additional 2,376 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Carvana by 13.2% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 75,053 shares of the company's stock valued at $17,978,000 after purchasing an additional 8,760 shares during the period. 48.41% of the stock is currently owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 1.12, a current ratio of 3.18 and a quick ratio of 1.42. The stock has a market capitalization of $48.70 billion, a P/E ratio of -105.41 and a beta of 2.52. The company has a 50 day simple moving average of $282.51 and a 200-day simple moving average of $234.52.
Carvana Company Profile (NYSE:CVNA)
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.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]7 Bellwether Stocks Signaling a Return to Normal
Bellwether stocks are considered to be leading indicators about the direction of the overall economy, a specific sector, or the broader market. They are predictive stocks in that investors can use the company’s earnings reports to gauge economic strength or weakness.
The traditional definition of bellwether stocks brings to mind established, blue-chip companies. They are the home of mature brands with consumer loyalty. These may be stocks that aren’t associated with exceptional growth; some may be dividend stocks.
But there’s something different about normal this time around. If it’s true (and I think it is) that the old rules no longer apply, investors need to change the way they think about bellwether stocks. Plus, let’s face it, many stocks that we might consider to be bellwether stocks have already had a bit of a vaccine rally. That means that the easy gains are gone.
With that in mind, we’ve put together this special presentation that highlights seven of what may be termed the new bellwether stocks. These are stocks that investors should be paying attention to as the economy continues to reopen.
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View the "7 Bellwether Stocks Signaling a Return to Normal"