Carvana (NYSE:CVNA) Trading 7.9% Higher

Carvana Co. (NYSE:CVNAGet Rating) shares rose 7.9% on Friday . The stock traded as high as $29.59 and last traded at $29.34. Approximately 306,538 shares traded hands during trading, a decline of 96% from the average daily volume of 8,337,883 shares. The stock had previously closed at $27.18.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective 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. JMP Securities initiated coverage on shares of Carvana in a report on Thursday, June 30th. They issued a “buy” rating and a $35.00 price objective for the company. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Wednesday. Oppenheimer cut their price objective on shares of Carvana from $430.00 to $220.00 and set an “outperform” rating for the company in a report on Friday, April 8th. Finally, Stephens cut their price objective on shares of Carvana from $100.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, June 13th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.09.

Carvana Price Performance

The company has a debt-to-equity ratio of 63.19, a quick ratio of 0.47 and a current ratio of 1.36. The company has a market cap of $5.04 billion, a PE ratio of -7.23 and a beta of 2.65. The company’s 50-day simple moving average is $25.63 and its 200 day simple moving average is $83.31.

Insider Buying and Selling at Carvana

In other Carvana news, Director J Danforth Quayle purchased 18,750 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was bought at an average price of $39.14 per share, with a total value of $733,875.00. Following the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $489,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, Director J Danforth Quayle purchased 18,750 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was bought at an average price of $39.14 per share, with a total value of $733,875.00. Following the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $489,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II purchased 1,191,468 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was acquired at an average cost of $20.67 per share, with a total value of $24,627,643.56. Following the transaction, the insider now directly owns 2,578,314 shares in the company, valued at $53,293,750.38. The disclosure for this purchase can be found here. Insiders acquired 2,197,008 shares of company stock valued at $47,538,049 in the last 90 days. Company insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors have recently modified their holdings of the company. Compass Financial Advisors LLC lifted its position in shares of Carvana by 25.0% during the 1st quarter. Compass Financial Advisors LLC now owns 3,711 shares of the company’s stock worth $443,000 after purchasing an additional 743 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Carvana by 9.7% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 7,127 shares of the company’s stock worth $1,652,000 after purchasing an additional 628 shares during the last quarter. Sachem Head Capital Management LP purchased a new stake in shares of Carvana during the 4th quarter worth $85,762,000. Marshall Wace LLP lifted its position in shares of Carvana by 416.7% during the 4th quarter. Marshall Wace LLP now owns 717,824 shares of the company’s stock worth $166,384,000 after purchasing an additional 578,900 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in Carvana by 50.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,027 shares of the company’s stock worth $480,000 after acquiring an additional 1,347 shares in the last quarter.

Carvana Company Profile

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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.

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