CVNA has been the subject of several other reports. Royal Bank of Canada downgraded shares of Carvana from a sector perform rating to an underperform rating and set a $30.00 target price for the company. in a research note on Thursday, July 20th. Citigroup raised their target price on shares of Carvana from $25.00 to $50.00 and gave the company a neutral rating in a research note on Friday, July 21st. JMP Securities restated a market outperform rating and issued a $60.00 target price on shares of Carvana in a research note on Monday, August 14th. Morgan Stanley raised their price target on shares of Carvana from $35.00 to $37.00 and gave the stock an underweight rating in a report on Friday, August 11th. Finally, Wedbush decreased their price target on shares of Carvana from $48.00 to $40.00 and set a neutral rating for the company in a report on Friday, November 3rd. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $36.67.
Carvana Stock Performance
Insider Buying and Selling
In related news, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $49.00, for a total transaction of $980,000.00. Following the sale, the insider now owns 165,174 shares in the company, valued at $8,093,526. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 17.12% of the stock is currently owned by corporate insiders.
Institutional Trading of Carvana
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Carvana in the second quarter valued at about $26,000. Hexagon Capital Partners LLC grew its position in shares of Carvana by 393.3% in the second quarter. Hexagon Capital Partners LLC now owns 1,036 shares of the company’s stock valued at $27,000 after purchasing an additional 826 shares during the period. TFC Financial Management Inc. acquired a new stake in shares of Carvana in the first quarter valued at about $29,000. Captrust Financial Advisors grew its position in shares of Carvana by 270.9% in the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after purchasing an additional 967 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Carvana in the second quarter valued at about $33,000. Institutional investors and hedge funds own 56.71% of the company’s stock.
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.
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