Carvana (NYSE:CVNA) Shares Up 7.5%

Carvana Co. (NYSE:CVNA) traded up 7.5% on Tuesday . The stock traded as high as $77.00 and last traded at $76.83. 2,870,716 shares changed hands during trading, a decline of 53% from the average session volume of 6,088,770 shares. The stock had previously closed at $71.44.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Robert W. Baird upped their target price on shares of Carvana from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and upped their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Carvana in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of “Hold” and a consensus price target of $53.87.

Carvana Stock Up 5.9 %

The firm has a market cap of $15.27 billion, a PE ratio of 140.19 and a beta of 3.32. The stock’s fifty day simple moving average is $75.53 and its two-hundred day simple moving average is $52.80.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.97) EPS. On average, equities research analysts anticipate that Carvana Co. will post -3.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Neha Parikh bought 1,300 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now owns 58,495 shares in the company, valued at approximately $4,504,115. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Neha Parikh bought 1,300 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now owns 58,495 shares in the company, valued at approximately $4,504,115. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the completion of the transaction, the vice president now owns 62,514 shares in the company, valued at approximately $5,423,089.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,883 shares of company stock worth $15,505,178. 17.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Exchange Traded Concepts LLC lifted its position in Carvana by 59.8% during the third quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock valued at $113,000 after purchasing an additional 1,006 shares during the period. Handelsbanken Fonder AB raised its position in Carvana by 12.3% in the third quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock worth $806,000 after acquiring an additional 2,100 shares during the period. Xponance Inc. bought a new position in Carvana in the third quarter worth approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Carvana by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock worth $769,000 after acquiring an additional 3,115 shares during the period. Finally, Mackenzie Financial Corp bought a new position in Carvana in the third quarter worth approximately $236,000. Institutional investors 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.