Carvana (NYSE:CVNA) Price Target Lowered to $290.00 at Wells Fargo & Company

Carvana (NYSE:CVNA) had its target price lowered by analysts at Wells Fargo & Company from $310.00 to $290.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 20.24% from the stock’s previous close.

CVNA has been the topic of a number of other research reports. Robert W. Baird reduced their target price on Carvana from $250.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Piper Sandler lifted their price objective on shares of Carvana from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, April 22nd. JMP Securities lowered their price objective on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Evercore ISI reduced their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Finally, Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $254.76.

Carvana Trading Up 1.7 %

Shares of CVNA stock traded up $4.04 during trading hours on Monday, reaching $241.19. 284,836 shares of the stock were exchanged, compared to its average volume of 4,743,620. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana has a 12-month low of $80.07 and a 12-month high of $292.84. The firm has a market capitalization of $51.41 billion, a price-to-earnings ratio of 153.62 and a beta of 3.61. The company’s 50-day moving average price is $204.82 and its 200-day moving average price is $222.98.

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

Insider Activity

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 179,673 shares in the company, valued at $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. In the last ninety days, insiders have sold 330,810 shares of company stock worth $69,243,820. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP lifted its stake in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after buying an additional 57,215 shares during the period. Durable Capital Partners LP grew its holdings in shares of Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after buying an additional 129,246 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after acquiring an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC raised its stake in Carvana by 29.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock worth $247,017,000 after acquiring an additional 278,760 shares during the last quarter. Hedge funds and other 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.