Jefferies Financial Group Increases Carvana (NYSE:CVNA) Price Target to $185.00

Carvana (NYSE:CVNA) had its price objective boosted by research analysts at Jefferies Financial Group from $150.00 to $185.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price points to a potential downside of 6.27% from the stock’s previous close.

A number of other research analysts have also issued reports on CVNA. Bank of America raised their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI restated an “in-line” rating and set a $178.00 price target on shares of Carvana in a report on Thursday, September 26th. Wedbush raised their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Robert W. Baird initiated coverage on shares of Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. Finally, Stephens initiated coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus target price of $182.29.

Carvana Trading Up 0.0 %

CVNA opened at $197.37 on Tuesday. The company’s 50 day moving average is $164.96 and its 200-day moving average is $131.07. The company has a market cap of $39.98 billion, a P/E ratio of 86.75 and a beta of 3.44. Carvana has a 1-year low of $25.09 and a 1-year high of $200.50. 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 issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Equities research analysts predict that Carvana will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.14, for a total value of $730,700.00. Following the completion of the sale, the chief financial officer now owns 180,609 shares of the company’s stock, valued at approximately $26,394,199.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $130.52, for a total value of $9,789,000.00. Following the completion of the sale, the insider now owns 1,790,814 shares in the company, valued at $233,737,043.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,859,366 shares of company stock valued at $465,069,909. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares during the period. Vanguard Group Inc. increased its position in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the period. Sylebra Capital LLC bought a new stake in shares of Carvana during the second quarter valued at about $67,686,000. Senator Investment Group LP bought a new stake in shares of Carvana during the second quarter valued at about $63,767,000. Finally, Driehaus Capital Management LLC increased its position in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares during the period. 56.71% of the stock is currently owned by institutional investors.

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.