Carvana (NYSE:CVNA) Given New $325.00 Price Target at JPMorgan Chase & Co.

Carvana (NYSE:CVNA - Get Free Report) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $365.00 to $325.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 55.81% from the company's current price.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Evercore ISI reduced their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. Bank of America lowered their price objective on Carvana from $270.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 14th. JMP Securities restated a "market outperform" rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Finally, Wedbush set a $250.00 price target on Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $261.53.

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Carvana Price Performance

Shares of CVNA stock traded up $4.18 during trading hours on Thursday, reaching $208.59. The company had a trading volume of 2,767,068 shares, compared to its average volume of 4,536,431. Carvana has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market capitalization of $44.46 billion, a price-to-earnings ratio of 132.86 and a beta of 3.56. The stock has a fifty day moving average of $227.25 and a 200-day moving average of $218.09.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $3.32 billion. On average, equities analysts anticipate that Carvana will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Thomas Taira sold 27,593 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares of the company's stock, valued at approximately $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock worth $44,251,096 over the last 90 days. Corporate insiders own 17.12% of the company's stock.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Fidelis Capital Partners LLC boosted its position in shares of Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after acquiring an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock worth $483,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

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.