Wells Fargo & Company Lowers Carvana (NYSE:CVNA) Price Target to $275.00

Carvana (NYSE:CVNA) had its price objective reduced by Wells Fargo & Company from $300.00 to $275.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently issued reports on the company. Evercore ISI lifted their price target on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Citigroup increased their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Robert W. Baird lifted their price objective on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC increased their target price on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus price target of $241.94.

Carvana Price Performance

Shares of NYSE:CVNA opened at $197.00 on Monday. The company has a 50 day moving average of $235.93 and a 200 day moving average of $182.69. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market cap of $40.90 billion, a P/E ratio of 19,719.72 and a beta of 3.38. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, sell-side analysts forecast that Carvana will post 0.76 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $190.47, for a total transaction of $19,047,000.00. Following the completion of the transaction, the insider now owns 38,258,131 shares of the company’s stock, valued at $7,287,026,211.57. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,051,908 shares of company stock worth $218,824,285. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in Carvana by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,976 shares of the company’s stock worth $641,000 after purchasing an additional 270 shares during the period. CIBC Asset Management Inc grew its position in shares of Carvana by 22.3% in the 2nd quarter. CIBC Asset Management Inc now owns 3,251 shares of the company’s stock worth $418,000 after buying an additional 593 shares during the period. Victory Capital Management Inc. increased its stake in shares of Carvana by 45.4% in the 2nd quarter. Victory Capital Management Inc. now owns 27,117 shares of the company’s stock worth $3,490,000 after acquiring an additional 8,467 shares in the last quarter. Arizona State Retirement System lifted its position in Carvana by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 27,669 shares of the company’s stock valued at $3,562,000 after acquiring an additional 1,032 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in Carvana by 190.4% during the second quarter. Los Angeles Capital Management LLC now owns 47,961 shares of the company’s stock worth $6,174,000 after acquiring an additional 31,448 shares in 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.