William Blair Reiterates “Outperform” Rating for Carvana (NYSE:CVNA)

William Blair reaffirmed their outperform rating on shares of Carvana (NYSE:CVNA) in a research report report published on Thursday morning,RTT News reports.

Several other analysts have also recently weighed in on CVNA. Needham & Company LLC boosted their price objective on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Thursday, February 6th. Evercore ISI upped their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Carvana Stock Performance

Shares of CVNA stock opened at $248.03 on Thursday. The firm has a market capitalization of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. 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 business’s 50-day moving average price is $234.85 and its 200-day moving average price is $207.18. Carvana has a 12 month low of $48.15 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Equities research analysts forecast that Carvana will post 0.87 EPS for the current year.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now owns 189,761 shares in the company, valued at approximately $48,402,338.27. The trade was a 5.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 in the last three months. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC raised its holdings in shares of Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after purchasing an additional 51 shares during the last quarter. Bleakley Financial Group LLC grew its position in Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after buying an additional 74 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in shares of Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after buying an additional 77 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

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.