Carvana (NYSE:CVNA) Price Target Increased to $130.00 by Analysts at Royal Bank of Canada

Carvana (NYSE:CVNA) had its price objective increased by Royal Bank of Canada from $90.00 to $130.00 in a research note published on Thursday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a hold rating on shares of Carvana in a report on Thursday. William Blair upgraded shares of Carvana from a market perform rating to an outperform rating in a report on Friday, February 23rd. JMP Securities reiterated a market outperform rating and issued a $80.00 price target on shares of Carvana in a research note on Wednesday, April 17th. Raymond James upgraded Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Finally, Jefferies Financial Group raised Carvana from an underperform rating to a hold rating and upped their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Carvana has an average rating of Hold and an average price target of $73.44.

Carvana Trading Up 4.4 %

NYSE CVNA traded up $5.17 on Thursday, hitting $121.67. 8,528,363 shares of the company’s stock were exchanged, compared to its average volume of 5,397,261. The stock has a 50-day moving average of $81.81 and a 200-day moving average of $55.88. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. Carvana has a 52 week low of $6.92 and a 52 week high of $124.20.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company posted ($0.97) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, analysts predict that Carvana will post -3.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ryan S. Keeton sold 8,250 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.55, for a total value of $953,287.50. Following the sale, the insider now directly owns 187,256 shares of the company’s stock, valued at approximately $21,637,430.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Carvana news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ryan S. Keeton sold 8,250 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.55, for a total value of $953,287.50. Following the completion of the transaction, the insider now directly owns 187,256 shares in the company, valued at $21,637,430.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 442,233 shares of company stock worth $38,200,169. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new position in Carvana during the fourth quarter worth $29,000. Parallel Advisors LLC raised its holdings in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the period. Hanseatic Management Services Inc. bought a new position in shares of Carvana during the 3rd quarter worth about $34,000. Tidemark LLC bought a new position in shares of Carvana during the 4th quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after buying an additional 1,103 shares during the period. Institutional investors and hedge funds 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.