Carvana (NYSE:CVNA) Given New $230.00 Price Target at Piper Sandler

Carvana (NYSE:CVNA - Get Free Report) had its price target boosted by investment analysts at Piper Sandler from $225.00 to $230.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price indicates a potential downside of 4.03% from the stock's previous close.

Several other analysts also recently issued reports on CVNA. Wedbush set a $250.00 price objective on shares of Carvana and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Citigroup lowered their price target on shares of Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Bank of America cut their price objective on shares of Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Royal Bank of Canada raised their target price on Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, Evercore ISI cut their price target on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $253.88.

Carvana Trading Up 2.0 %

Shares of Carvana stock traded up $4.65 during trading hours on Tuesday, hitting $239.67. The company's stock had a trading volume of 954,157 shares, compared to its average volume of 4,774,571. The business has a fifty day moving average of $205.78 and a 200 day moving average of $222.22. 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 has a 1-year low of $77.00 and a 1-year high of $292.84. The company has a market capitalization of $51.09 billion, a PE ratio of 152.81 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $3.32 billion. As a group, equities analysts forecast that Carvana will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock valued at $69,243,820 over the last 90 days. 17.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP lifted 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 acquiring an additional 57,215 shares during the last quarter. Durable Capital Partners LP increased its position in Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after buying an additional 129,246 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its position in Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock worth $247,017,000 after acquiring an additional 278,760 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

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.