Carvana (NYSE:CVNA) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carvana (NYSE:CVNA) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $395.00 target price on the stock.

Several other equities analysts also recently weighed in on CVNA. BTIG Research reissued a “buy” rating and set a $450.00 target price on shares of Carvana in a research report on Thursday, October 30th. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Piper Sandler upped their price target on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a research note on Monday, November 17th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.20.

Carvana Stock Down 0.8%

CVNA opened at $310.73 on Friday. The firm has a 50-day simple moving average of $347.28 and a two-hundred day simple moving average of $340.45. Carvana has a 52 week low of $148.25 and a 52 week high of $413.33. The company has a market capitalization of $67.60 billion, a PE ratio of 70.94, a price-to-earnings-growth ratio of 1.12 and a beta of 3.50. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue was up 54.5% compared to the same quarter last year. Analysts forecast that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ernest C. Garcia III sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $364.64, for a total value of $3,646,400.00. Following the completion of the sale, the chief executive officer owned 476,440 shares of the company’s stock, valued at approximately $173,729,081.60. The trade was a 2.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan S. Keeton sold 32,370 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the sale, the insider directly owned 115,456 shares of the company’s stock, valued at $34,830,766.08. This represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 376,452 shares of company stock worth $137,402,532. Insiders own 16.36% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds have recently bought and sold shares of the business. SJS Investment Consulting Inc. increased its holdings in shares of Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the last quarter. Warren Street Wealth Advisors LLC boosted its holdings in Carvana by 2.8% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock valued at $388,000 after acquiring an additional 31 shares during the period. MAI Capital Management grew its holdings in shares of Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after purchasing an additional 31 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Carvana by 23.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock worth $62,000 after acquiring an additional 31 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its position in Carvana by 1.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.