Carvana (NYSE:CVNA) Trading Up 2.6% – Time to Buy?

Carvana Co. (NYSE:CVNA)’s share price traded up 2.6% on Monday . The stock traded as high as $208.32 and last traded at $209.75. 1,519,575 shares were traded during trading, a decline of 66% from the average session volume of 4,513,710 shares. The stock had previously closed at $204.41.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVNA. Needham & Company LLC reissued a “buy” rating and set a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Wedbush set a $250.00 price objective on Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Stephens reissued an “overweight” rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.53.

Carvana Stock Performance

The company has a market capitalization of $47.84 billion, a P/E ratio of 142.94 and a beta of 3.56. The business has a 50 day moving average of $226.42 and a 200 day moving average of $219.06. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This represents a 20.30 % 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, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $55,016,895.44. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,377 shares of company stock worth $44,251,096 over the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Wellington Management Group LLP increased its stake in shares of Carvana by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock valued at $7,365,000 after buying an additional 1,430 shares during the period. California State Teachers Retirement System lifted its position in shares of Carvana by 81.5% during the fourth quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock valued at $36,859,000 after buying an additional 81,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Carvana by 16.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock worth $511,000 after buying an additional 348 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of Carvana during the 4th quarter worth approximately $839,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Carvana during the fourth quarter valued at approximately $36,527,000. 56.71% of the stock is 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.