Carvana (NYSE:CVNA) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Carvana (NYSE:CVNA) from a neutral rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $130.00 price target on the stock, up from their prior price target of $70.00.

Other equities analysts have also recently issued research reports about the stock. TD Cowen lifted their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a hold rating in a research report on Monday, April 29th. Royal Bank of Canada upgraded Carvana from an underperform rating to a sector perform rating and lifted their price objective for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. Evercore ISI lowered their target price on Carvana from $78.00 to $77.00 and set an in-line rating on the stock in a report on Tuesday, April 16th. Morgan Stanley boosted their price target on Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a report on Monday, February 26th. Finally, Jefferies Financial Group upgraded Carvana from an underperform rating to a hold rating and upped their price objective for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $73.44.

Carvana Stock Up 4.4 %

Shares of CVNA traded up $5.17 on Thursday, reaching $121.67. The stock had a trading volume of 8,528,363 shares, compared to its average volume of 5,397,261. The firm has a 50-day moving average of $81.81 and a 200 day moving average of $56.03. The firm has a market capitalization of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28. Carvana has a twelve month low of $6.92 and a twelve month high of $124.20.

Carvana (NYSE:CVNA) last posted its earnings results 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.97) earnings per share. On average, sell-side analysts anticipate that Carvana will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction 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 transaction, the insider now owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Neha Parikh purchased 1,300 shares of Carvana stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $76.68 per share, for a total transaction of $99,684.00. Following the completion of the transaction, the director now owns 59,795 shares of the company’s stock, valued at $4,585,080.60. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 442,233 shares of company stock valued at $38,200,169. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares in the last quarter. Diversified Trust Co lifted its position in shares of Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Carvana by 1.5% during the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after purchasing an additional 377 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Carvana by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after purchasing an additional 500 shares during the period. Finally, Blue Trust Inc. acquired a new stake in Carvana during the 4th quarter valued at $29,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.