Carvana (NYSE:CVNA) Shares Gap Up - Here's What Happened

Carvana Co. (NYSE:CVNA - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $167.87, but opened at $184.91. Carvana shares last traded at $191.55, with a volume of 838,984 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVNA shares. Evercore ISI decreased 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. DA Davidson boosted their target price on Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. JMP Securities reduced their price target on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday. Citigroup lowered their price objective on shares of Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $340.00 target price on shares of Carvana in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $253.59.

Carvana Price Performance

The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $44.11 billion, a P/E ratio of 131.79 and a beta of 3.61. The business's 50 day moving average is $216.20 and its two-hundred day moving average is $220.23.

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Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The company 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 36.59% and a net margin of 1.54%. As a group, analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, insider Paul W. Breaux sold 1,362 shares of the business's 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 completion of the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was 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 $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock worth $69,243,820 in the last quarter. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC bought a new stake in shares of Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC increased its holdings in Carvana by 109.9% during the 4th 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. Rialto Wealth Management LLC purchased a new stake in shares of Carvana in the fourth quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc purchased a new position in shares of Carvana during the fourth quarter valued at approximately $42,000. 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.