Wells Fargo & Company Raises Carvana (NYSE:CVNA) Price Target to $250.00

Carvana (NYSE:CVNA) had its price target increased by Wells Fargo & Company from $175.00 to $250.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the company. Robert W. Baird began coverage on Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target on the stock. Piper Sandler raised their price target on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup lifted their price target on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. BTIG Research increased their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $182.29.

Carvana Stock Performance

Shares of CVNA stock opened at $202.60 on Wednesday. The company’s fifty day moving average price is $167.97 and its 200-day moving average price is $132.84. The stock has a market cap of $41.04 billion, a PE ratio of 88.86 and a beta of 3.44. 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 has a 12 month low of $25.09 and a 12 month high of $203.72.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, equities analysts expect that Carvana will post 0.29 EPS for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the transaction, the insider now directly owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Carvana news, insider Daniel J. Gill sold 41,163 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $200.11, for a total transaction of $8,237,127.93. Following the completion of the sale, the insider now owns 283,287 shares of the company’s stock, valued at approximately $56,688,561.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the transaction, the insider now directly owns 690,814 shares in the company, valued at $102,710,225.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,955,891 shares of company stock worth $489,299,685. 17.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVNA. Empirical Asset Management LLC lifted its holdings in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after buying an additional 130 shares in the last quarter. CWM LLC boosted its holdings in Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares during the period. GAMMA Investing LLC increased its stake in Carvana by 32.8% in the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after buying an additional 150 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Carvana by 2.9% during the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after acquiring an additional 175 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.