Carvana's (CVNA) "Outperform" Rating Reaffirmed at William Blair

Carvana (NYSE:CVNA - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at William Blair in a research note issued to investors on Thursday, RTT News reports.

CVNA has been the subject of a number of other research reports. TD Cowen raised their price target on shares of Carvana from $58.00 to $70.00 and gave the company a "hold" rating in a report on Monday. Needham & Company LLC reissued a "hold" rating on shares of Carvana in a research note on Thursday. Royal Bank of Canada upped their price target on Carvana from $90.00 to $130.00 and gave the company a "sector perform" rating in a research note on Thursday. Wedbush lifted their price objective on Carvana from $80.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on Carvana from $32.00 to $45.00 and gave the stock an "underweight" rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $70.00.

Carvana Price Performance

Shares of CVNA traded up $29.27 during trading hours on Thursday, hitting $116.36. The stock had a trading volume of 24,199,700 shares, compared to its average volume of 6,288,210. The company's fifty day moving average is $79.47 and its two-hundred day moving average is $54.84. Carvana has a 52 week low of $6.92 and a 52 week high of $122.30. The stock has a market capitalization of $23.49 billion, a price-to-earnings ratio of 210.17 and a beta of 3.28.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The firm's quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.97) EPS. Equities analysts predict that Carvana will post -3.32 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 20,000 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 115,032 shares in the company, valued at approximately $10,237,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Paul W. Breaux sold 20,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $89.00, for a total value of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 115,032 shares in the company, valued at approximately $10,237,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 9,296 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total value of $770,824.32. Following the completion of the transaction, the chief operating officer now owns 178,885 shares of the company's stock, valued at $14,833,144.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,883 shares of company stock worth $27,930,178. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Morgan Stanley lifted its stake in Carvana by 13.8% in the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company's stock valued at $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. lifted its stake in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company's stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. TD Asset Management Inc bought a new stake in Carvana in the 3rd quarter valued at approximately $22,906,000. UBS Group AG lifted its stake in Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company's stock valued at $3,426,000 after acquiring an additional 331,892 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company's stock valued at $32,684,000 after acquiring an additional 280,851 shares in the last quarter. Institutional investors own 56.71% of the company's stock.

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.