Carvana (NYSE:CVNA) Hits New 52-Week High - Still a Buy?

Carvana Co. (NYSE:CVNA - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $288.30 and last traded at $286.57, with a volume of 31301 shares traded. The stock had previously closed at $285.33.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CVNA shares. Wedbush reaffirmed a "neutral" rating and issued a $250.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Morgan Stanley raised shares of Carvana from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Needham & Company LLC lifted their price objective on Carvana from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday. Stephens reissued an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $265.06.

Carvana Stock Down 9.9 %

The company has a market capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. 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's 50 day moving average is $234.35 and its 200 day moving average is $207.79.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares of the company's stock, valued at approximately $37,961,222.75. This represents a 5.02 % 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, Director Ira J. Platt sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the transaction, the director now directly owns 5,227 shares of the company's stock, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 in the last quarter. 17.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after buying an additional 5,882,656 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after acquiring an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock worth $810,827,000 after purchasing an additional 57,215 shares in the last quarter. Durable Capital Partners LP increased its position in shares of Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Carvana by 4.2% in the fourth 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. Institutional investors 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.