Carvana (NYSE:CVNA) Given New $200.00 Price Target at Robert W. Baird

Carvana (NYSE:CVNA) had its price target reduced by Robert W. Baird from $250.00 to $200.00 in a research note published on Friday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

CVNA has been the topic of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. Finally, Stephens restated an “overweight” rating and set a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.59.

Carvana Stock Performance

Shares of CVNA stock opened at $162.54 on Friday. The firm’s 50 day moving average is $223.47 and its 200 day moving average is $218.92. The stock has a market capitalization of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations 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 year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 43,433 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the completion of the transaction, the chief financial officer now directly owns 214,678 shares of the company’s stock, valued at $44,925,665.06. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $207.32, for a total transaction of $10,366,000.00. Following the completion of the sale, the chief operating officer now owns 128,116 shares in the company, valued at $26,561,009.12. This represents a 28.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,810 shares of company stock valued at $61,698,820. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

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