Carvana (NYSE:CVNA) Earns Outperform Rating from William Blair

Carvana (NYSE:CVNA)‘s stock had its “outperform” rating reaffirmed by investment analysts at William Blair in a report issued on Thursday, RTT News reports.

CVNA has been the subject of several other research reports. Morgan Stanley boosted their price objective on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. TD Cowen boosted their target price on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Robert W. Baird boosted their target price on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Carvana from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $130.00 in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Carvana in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.44.

Carvana Price Performance

CVNA stock traded up $5.17 during mid-day trading on Thursday, reaching $121.67. 8,528,363 shares of the company traded hands, compared to its average volume of 5,397,261. Carvana has a 52-week low of $6.92 and a 52-week high of $124.20. The company has a market capitalization of $24.57 billion, a P/E ratio of 53.36 and a beta of 3.28. The company has a fifty day moving average price of $81.81 and a 200-day moving average price of $55.88.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm earned ($0.97) earnings per share. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, analysts forecast that Carvana will post -3.32 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, Director Neha Parikh acquired 1,300 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the transaction, the director now owns 58,495 shares of the company’s stock, valued at approximately $4,504,115. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Carvana news, Director Neha Parikh bought 1,300 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the acquisition, the director now directly owns 58,495 shares in the company, valued at $4,504,115. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the transaction, the chief executive officer now owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 442,233 shares of company stock worth $38,200,169. 17.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Blue Trust Inc. bought a new position in shares of Carvana during the fourth quarter valued at approximately $29,000. Hanseatic Management Services Inc. purchased a new stake in Carvana in the third quarter worth $34,000. Parallel Advisors LLC grew its stake in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Harvest Fund Management Co. Ltd grew its stake in Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after purchasing an additional 1,103 shares during the period. Finally, Tidemark LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $50,000. 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.