Carvana (NYSE:CVNA) had its price objective lifted by Citigroup from $67.00 to $77.00 in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a buy rating on the stock. The analysts noted that the move was a valuation call.
Other equities research analysts have also issued reports about the stock. Barrington Research reiterated a buy rating and set a $50.00 target price on shares of Carvana in a research report on Thursday, August 9th. Zacks Investment Research lowered shares of Carvana from a hold rating to a sell rating in a report on Monday, August 13th. BMO Capital Markets boosted their price objective on shares of Carvana from $35.00 to $48.00 and gave the stock a market perform rating in a report on Thursday, August 9th. Craig Hallum set a $48.00 price objective on shares of Carvana and gave the stock a hold rating in a report on Thursday, August 9th. Finally, B. Riley boosted their price objective on shares of Carvana from $38.00 to $76.00 and gave the stock a buy rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $47.19.
Shares of Carvana stock opened at $64.01 on Tuesday. Carvana has a 1 year low of $12.17 and a 1 year high of $72.59. The company has a market cap of $9.45 billion, a price-to-earnings ratio of -52.90 and a beta of -1.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.47 and a quick ratio of 0.78.
In related news, major shareholder Ddfs Partnership Lp sold 896,542 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $64.93, for a total transaction of $58,212,472.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.69% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Whale Rock Capital Management LLC purchased a new position in Carvana during the 2nd quarter valued at $35,039,000. Fiera Capital Corp purchased a new position in Carvana during the 2nd quarter valued at $1,082,000. Brown Advisory Inc. purchased a new position in Carvana during the 1st quarter valued at $483,000. Chicago Capital LLC increased its position in Carvana by 13.6% during the 2nd quarter. Chicago Capital LLC now owns 700,474 shares of the company’s stock valued at $29,140,000 after purchasing an additional 84,068 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new position in Carvana during the 2nd quarter valued at $340,000. 25.98% of the stock is currently owned by institutional investors and hedge funds.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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