Carvana Co. (NYSE:CVNA) Sees Large Increase in Short Interest

Carvana Co. (NYSE:CVNA - Get Free Report) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 13,400,000 shares, an increase of 7.7% from the December 31st total of 12,440,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the days-to-cover ratio is currently 4.1 days.

Insider Transactions at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares of the company's stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company's stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,845 shares of company stock valued at $30,742,656. 17.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Versor Investments LP acquired a new position in shares of Carvana in the 4th quarter valued at $4,646,000. Proficio Capital Partners LLC purchased a new stake in Carvana during the 4th quarter worth approximately $23,655,000. Oppenheimer & Co. Inc. increased its holdings in Carvana by 19.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company's stock worth $465,000 after purchasing an additional 374 shares during the period. Gulf International Bank UK Ltd purchased a new stake in shares of Carvana during the 4th quarter worth $1,438,000. Finally, Lingotto Investment Management LLP increased its stake in Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after purchasing an additional 57,215 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Down 1.1 %

NYSE:CVNA traded down $2.91 during trading hours on Wednesday, reaching $254.74. The company's stock had a trading volume of 705,348 shares, compared to its average volume of 3,993,253. The stock has a 50 day moving average price of $230.44 and a two-hundred day moving average price of $196.46. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a 12 month low of $43.87 and a 12 month high of $268.34. The company has a market capitalization of $52.89 billion, a P/E ratio of 25,499.40 and a beta of 3.37.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVNA shares. Citigroup upgraded shares of Carvana from a "neutral" rating to a "buy" rating and upped their target price for the stock from $195.00 to $277.00 in a research report on Wednesday, January 8th. Morgan Stanley raised Carvana from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Needham & Company LLC reissued a "buy" rating and set a $330.00 price target on shares of Carvana in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price objective on Carvana from $300.00 to $350.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Stephens reiterated an "overweight" rating and set a $300.00 target price on shares of Carvana in a research report on Thursday, January 2nd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $244.88.

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.