Carvana (NYSE:CVNA) Reaches New 52-Week High – What’s Next?

Carvana Co. (NYSE:CVNA) reached a new 52-week high during trading on Monday . The stock traded as high as $268.70 and last traded at $266.51, with a volume of 857957 shares traded. The stock had previously closed at $264.07.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVNA. Jefferies Financial Group lifted their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Carvana in a research note on Thursday, February 6th. Evercore ISI increased their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $330.00 price target on shares of Carvana in a report on Tuesday, January 7th. Finally, Robert W. Baird upped 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. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.29.

Carvana Price Performance

The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market cap of $55.64 billion, a PE ratio of 26,823.82 and a beta of 3.37. The stock has a 50 day moving average of $231.25 and a two-hundred day moving average of $201.27.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 189,761 shares in the company, valued at approximately $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,845 shares of company stock worth $30,742,656 over the last 90 days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently bought and sold shares of CVNA. Fidelis Capital Partners LLC lifted its position 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 worth $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted 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 buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after buying an additional 74 shares in the last quarter. Forum Financial Management LP boosted its stake 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 valued at $361,000 after buying an additional 76 shares during the period. Finally, Great Lakes Advisors LLC grew its holdings in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after acquiring an additional 77 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.