Carvana (NYSE:CVNA) Upgraded at Raymond James

Raymond James upgraded shares of Carvana (NYSE:CVNA – Get Rating) from an underperform rating to a market perform rating in a research report report published on Wednesday, MarketBeat.com reports.

Several other research analysts have also recently commented on the stock. Wedbush lowered their price target 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. Piper Sandler lowered their price target on shares of Carvana from $130.00 to $98.00 and set a neutral rating for the company in a report on Thursday, April 21st. Wells Fargo & Company lowered their price target on shares of Carvana from $65.00 to $35.00 and set an equal weight rating for the company in a report on Wednesday, June 8th. DA Davidson lowered their price target on shares of Carvana from $140.00 to $49.00 and set a na rating for the company in a report on Monday, May 16th. Finally, Royal Bank of Canada lowered their price target on shares of Carvana from $138.00 to $85.00 and set a sector perform rating for the company in a report on Thursday, April 21st. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $108.09.

Carvana Price Performance

Shares of CVNA opened at $29.15 on Wednesday. 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 fifty-two week low of $19.45 and a fifty-two week high of $376.83. The company has a market cap of $5.04 billion, a P/E ratio of -7.23 and a beta of 2.65. The firm’s 50 day moving average price is $25.72 and its 200 day moving average price is $84.40.

Insiders Place Their Bets

In related news, Director J Danforth Quayle purchased 18,750 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average price of $39.14 per share, for a total transaction of $733,875.00. Following the acquisition, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $489,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Carvana news, insider Paul W. Breaux acquired 15,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were purchased at an average cost of $32.57 per share, with a total value of $488,550.00. Following the purchase, the insider now owns 49,240 shares in the company, valued at $1,603,746.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Danforth Quayle acquired 18,750 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was acquired at an average cost of $39.14 per share, for a total transaction of $733,875.00. Following the completion of the purchase, the director now owns 12,500 shares in the company, valued at approximately $489,250. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,197,008 shares of company stock worth $47,538,049. 10.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Carvana by 46.8% during the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock worth $870,511,000 after purchasing an additional 2,325,545 shares during the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Carvana by 77.7% during the 4th quarter. D1 Capital Partners L.P. now owns 4,211,082 shares of the company’s stock worth $976,087,000 after purchasing an additional 1,841,141 shares during the last quarter. Tiger Global Management LLC boosted its stake in shares of Carvana by 17.5% during the 1st quarter. Tiger Global Management LLC now owns 8,531,177 shares of the company’s stock worth $1,017,684,000 after purchasing an additional 1,268,272 shares during the last quarter. Spruce House Investment Management LLC boosted its stake in shares of Carvana by 33.3% during the 1st quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock worth $596,450,000 after purchasing an additional 1,250,000 shares during the last quarter. Finally, Thrive Capital Management LLC acquired a new stake in shares of Carvana during the 1st quarter worth about $96,949,000.

About Carvana

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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.