Carvana (NYSE:CVNA) Shares Up 2.6% - Time to Buy?

Carvana Co. (NYSE:CVNA - Get Free Report)'s stock price was up 2.6% on Monday . The company traded as high as $208.32 and last traded at $209.75. Approximately 1,519,575 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,513,710 shares. The stock had previously closed at $204.41.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVNA. Bank of America reduced their price target on shares of Carvana from $270.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company reduced their target price on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Robert W. Baird boosted their price objective on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, Stephens reissued an "overweight" rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $261.53.

Carvana Stock Down 19.5 %

The stock has a market capitalization of $38.82 billion, a price-to-earnings ratio of 115.99 and a beta of 3.61. The firm has a 50-day moving average of $225.04 and a 200 day moving average of $218.85. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

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Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. As a group, sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value 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 $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,810 shares of company stock valued at $61,698,820. 17.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

Several large investors have recently modified their holdings of CVNA. Versant Capital Management Inc grew its stake in shares of Carvana by 39.4% in the 1st quarter. Versant Capital Management Inc now owns 290 shares of the company's stock valued at $61,000 after buying an additional 82 shares during the period. Wellington Management Group LLP boosted its position in Carvana by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock worth $7,365,000 after purchasing an additional 1,430 shares during the last quarter. California State Teachers Retirement System grew its position in Carvana by 81.5% during the fourth quarter. California State Teachers Retirement System now owns 181,249 shares of the company's stock valued at $36,859,000 after buying an additional 81,414 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Carvana by 16.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock worth $511,000 after purchasing an additional 348 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new stake in shares of Carvana in the fourth quarter valued at $839,000. 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.