Carvana (NYSE:CVNA) Given New $200.00 Price Target at Robert W. Baird

Carvana (NYSE:CVNA) had its price target lowered by Robert W. Baird from $250.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, DA Davidson upped their price objective on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $258.59.

Carvana Stock Performance

NYSE:CVNA opened at $162.54 on Friday. Carvana has a 52 week low of $67.61 and a 52 week high of $292.84. The company has a fifty day simple moving average of $223.47 and a two-hundred day simple moving average of $219.76. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a market cap of $34.65 billion, a price-to-earnings ratio of 103.53 and a beta of 3.61.

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

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,810 shares of company stock worth $61,698,820. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares during the period. Plato Investment Management Ltd grew its holdings in Carvana by 135.5% during the fourth 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 period. Oak Thistle LLC grew its holdings in Carvana by 115.9% during the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after acquiring an additional 1,738 shares during the period. Bank of New York Mellon Corp raised its position in Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after acquiring an additional 130,942 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Carvana by 33.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after purchasing an additional 95,497 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.