Carvana (NYSE:CVNA) Sets New 12-Month High – Still a Buy?

Shares of Carvana Co. (NYSE:CVNA) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $204.81 and last traded at $204.81, with a volume of 13682 shares trading hands. The stock had previously closed at $202.53.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVNA. JPMorgan Chase & Co. upped their price objective on Carvana from $185.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen upped their price objective on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Bank of America boosted their target price on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $182.29.

Carvana Price Performance

The stock has a 50 day simple moving average of $170.05 and a 200-day simple moving average of $135.38. The firm has a market cap of $42.29 billion, a PE ratio of 91.56 and a beta of 3.44. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Equities analysts anticipate that Carvana Co. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $137.34, for a total transaction of $10,300,500.00. Following the completion of the transaction, the insider now owns 1,390,814 shares of the company’s stock, valued at $191,014,394.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $137.34, for a total value of $10,300,500.00. Following the completion of the transaction, the insider now owns 1,390,814 shares in the company, valued at approximately $191,014,394.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total value of $730,700.00. Following the sale, the chief financial officer now directly owns 180,609 shares in the company, valued at $26,394,199.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,805,891 shares of company stock valued at $469,633,185 in the last 90 days. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Institutional investors have recently bought and sold shares of the stock. Forum Financial Management LP raised its stake in shares of Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares during the period. CacheTech Inc. bought a new position in Carvana during the 3rd quarter valued at about $224,000. New York State Common Retirement Fund raised its position in Carvana by 6.0% in the 3rd quarter. New York State Common Retirement Fund now owns 156,901 shares of the company’s stock worth $27,318,000 after purchasing an additional 8,849 shares during the period. US Bancorp DE lifted its stake in Carvana by 80.1% in the third quarter. US Bancorp DE now owns 10,342 shares of the company’s stock worth $1,801,000 after purchasing an additional 4,599 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Carvana by 13.3% in the third quarter. First Trust Direct Indexing L.P. now owns 2,068 shares of the company’s stock worth $360,000 after purchasing an additional 243 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.