JPMorgan Chase & Co. Lowers Carvana (NYSE:CVNA) Price Target to $325.00

Carvana (NYSE:CVNA) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $365.00 to $325.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 59.00% from the stock’s current price.

Several other analysts also recently issued reports on the company. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Carvana Stock Up 0.2 %

Shares of NYSE:CVNA opened at $204.40 on Thursday. The company’s fifty day moving average is $227.25 and its two-hundred day moving average is $216.89. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana has a 1-year low of $67.61 and a 1-year high of $292.84. The stock has a market capitalization of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Equities analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the completion of the sale, the chief operating officer now directly owns 146,278 shares of the company’s stock, valued at approximately $30,769,577.30. This represents a 25.47 % 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 Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,377 shares of company stock worth $44,251,096 over the last quarter. 17.12% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after buying an additional 39,089 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after acquiring an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Carvana by 37.7% during the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after purchasing an additional 130,942 shares during the period. Oak Thistle LLC lifted its holdings in shares of Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Carvana by 33.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock valued at $77,807,000 after purchasing an additional 95,497 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

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.