Carvana (NYSE:CVNA) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen lowered shares of Carvana (NYSE:CVNA - Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other equities analysts have also weighed in on CVNA. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised their price objective on shares of Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Evercore ISI increased their target price on Carvana from $290.00 to $295.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 17th. Finally, Robert W. Baird boosted their price target on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $284.18.

Carvana Stock Performance

Shares of CVNA stock traded up $3.23 on Friday, reaching $323.31. The stock had a trading volume of 2,588,996 shares, compared to its average volume of 3,941,418. Carvana has a 12 month low of $111.55 and a 12 month high of $351.43. The firm has a market capitalization of $69.23 billion, a price-to-earnings ratio of 113.44, a P/E/G ratio of 1.25 and a beta of 3.65. The firm's 50-day moving average is $285.11 and its two-hundred day moving average is $242.97. The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97.

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

Insider Activity

In other Carvana news, insider Daniel J. Gill sold 70,166 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the transaction, the insider now directly owns 201,087 shares in the company, valued at approximately $56,591,914.41. This trade represents a 25.87% 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 50,000 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $207.32, for a total value of $10,366,000.00. Following the sale, the chief operating officer now owns 128,116 shares in the company, valued at approximately $26,561,009.12. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,285,573 shares of company stock worth $392,493,929. Insiders own 16.36% of the company's stock.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group grew its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of 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 buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Carvana during the first quarter worth about $33,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock worth $46,000 after acquiring an additional 99 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.