Carvana (NYSE:CVNA) Price Target Cut to $200.00 by Analysts at Robert W. Baird

Carvana (NYSE:CVNA - Free Report) had its target price cut by Robert W. Baird from $250.00 to $200.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

CVNA has been the topic of several other research reports. Royal Bank of Canada raised their target price on shares of Carvana from $280.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. DA Davidson raised their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Piper Sandler upgraded Carvana from a "neutral" rating to an "overweight" rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company cut their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and an average target price of $253.59.

Carvana Stock Performance

Shares of CVNA traded up $31.57 during mid-day trading on Friday, reaching $207.89. 3,501,769 shares of the company's stock traded hands, compared to its average volume of 4,044,412. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The business's 50-day moving average price is $219.24 and its 200-day moving average price is $219.46. The stock has a market capitalization of $44.31 billion, a P/E ratio of 132.77 and a beta of 3.61. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84.

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Carvana (NYSE:CVNA - Get Free Report) last announced 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 return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Equities analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insider Activity

In other Carvana news, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 179,673 shares in the company, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Monday, March 31st. The shares were sold at an average price of $207.32, for a total transaction of $10,366,000.00. Following the sale, the chief operating officer now directly owns 128,116 shares of the company's stock, valued at $26,561,009.12. This trade represents a 28.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,810 shares of company stock worth $61,698,820 over the last quarter. Corporate insiders own 16.36% of the company's stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerity Partners LLC increased its position in Carvana by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 4,215 shares of the company's stock worth $734,000 after purchasing an additional 2,234 shares during the last quarter. Townsquare Capital LLC acquired a new position in Carvana in the third quarter worth approximately $282,000. Rockefeller Capital Management L.P. bought a new position in Carvana during the third quarter valued at approximately $1,772,000. Captrust Financial Advisors acquired a new stake in Carvana in the third quarter valued at approximately $270,000. Finally, Centiva Capital LP bought a new stake in Carvana in the third quarter worth approximately $555,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.