Carvana (NYSE:CVNA) Upgraded at Piper Sandler

Carvana (NYSE:CVNA - Get Free Report) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage presently has a $225.00 price target on the stock. Piper Sandler's price target would suggest a potential upside of 5.33% from the company's previous close.

Other analysts also recently issued reports about the stock. Wedbush set a $250.00 target price on shares of Carvana and gave the company a "neutral" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on Carvana from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Royal Bank of Canada raised their price objective on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Finally, DA Davidson increased their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of "Moderate Buy" and an average price target of $262.71.

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Carvana Trading Up 11.9 %

Shares of NYSE CVNA traded up $22.66 during mid-day trading on Thursday, hitting $213.61. 5,083,029 shares of the company traded hands, compared to its average volume of 3,862,168. 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 $67.61 and a 1 year high of $292.84. The stock has a market capitalization of $45.53 billion, a price-to-earnings ratio of 136.06 and a beta of 3.56. The business has a 50 day moving average of $227.95 and a two-hundred day moving average of $215.96.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, sell-side analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. This trade represents a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,784 shares of company stock worth $27,524,344. Company insiders own 17.12% of the company's stock.

Institutional Investors Weigh In On Carvana

Hedge funds have recently made changes to their positions in the company. Eagle Asset Management Inc. bought a new stake in Carvana during the 3rd quarter worth about $50,531,000. Charles Schwab Investment Management Inc. increased its position in shares of Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock valued at $94,148,000 after buying an additional 39,089 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company's stock worth $1,062,000 after purchasing an additional 2,994 shares during the period. Bank of New York Mellon Corp raised its holdings in Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company's stock worth $97,305,000 after buying an additional 130,942 shares during the period. Finally, Oak Thistle LLC lifted its position in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company's stock valued at $658,000 after acquiring an additional 1,738 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.