BTIG Research Begins Coverage on Carvana (NYSE:CVNA)

Stock analysts at BTIG Research assumed coverage on shares of Carvana (NYSE:CVNA) in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $155.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 19.28% from the company’s current price.

A number of other equities analysts have also commented on CVNA. Needham & Company LLC upgraded shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, TD Cowen boosted their price objective on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.13.

Carvana Trading Down 0.8 %

NYSE:CVNA opened at $129.95 on Friday. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 57.00 and a beta of 3.37. The firm’s fifty day simple moving average is $115.54 and its 200 day simple moving average is $82.87. Carvana has a twelve month low of $25.09 and a twelve month high of $136.92.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, analysts predict that Carvana will post -0.75 earnings per share for the current year.

Insider Activity

In other news, insider Thomas Taira sold 68,556 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the transaction, the insider now owns 186,397 shares in the company, valued at approximately $19,150,427.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Thomas Taira sold 68,556 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the transaction, the insider now owns 186,397 shares in the company, valued at approximately $19,150,427.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the transaction, the vice president now owns 56,872 shares in the company, valued at approximately $4,874,499.12. The disclosure for this sale can be found here. Insiders have sold 2,098,946 shares of company stock worth $236,826,806 over the last 90 days. 17.12% of the stock is owned by company insiders.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its position in Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares during the last quarter. Parallel Advisors LLC grew its position in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. GAMMA Investing LLC grew its position in Carvana by 127.9% in the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after purchasing an additional 257 shares during the last quarter. Diversified Trust Co grew its position in Carvana by 6.0% in the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Carvana by 21.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,866 shares of the company’s stock valued at $163,000 after acquiring an additional 326 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.