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Carvana (NYSE:CVNA) Gets Market Perform Rating from JMP Securities

Carvana (NYSE:CVNA) Gets Market Perform Rating from JMP Securities

JMP Securities reiterates market outperform rating for stocks Caravan (NYSE: CVNAFree Report) In a report published on Wednesday, Benzinga According to reports, JMP Securities currently has a target price of $150.00 on the stock.

Several other equities research analysts have also recently reported on the stock. Needham & Company LLC raised shares of Carvana from a hold rating to a buy rating and set a $160.00 target price on the stock in a research note on Wednesday. William Blair reissued an outperform rating on shares of Carvana in a research report on Thursday, May 2. TD Cowen raised 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 29. Wells Fargo & Company raised their target price on shares of Carvana from $60.00 to $77.00 and gave the stock an equal weight rating in a research report on Thursday, May 2. Finally, Royal Bank of Canada raised their target price on shares of Carvana from $90.00 to $130.00 and gave the stock a sector perform rating in a research report on Thursday, May 2. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The company currently has an average Hold rating and an average target price of $93.27, according to data from MarketBeat.

Read Our Latest Stock Analysis on CVNA

Carvana Price Performance

Carvana stock It opened at $130.97 on Wednesday. Carvana has a 12-month low of $25.09 and a 12-month high of $136.92. The stock has a market cap of $26.53 billion, a P/E ratio of 57.44 and a beta of 3.37. The company’s 50-day moving average is $115.26 and its two-hundred-day moving average is $82.54.

Caravan (NYSE: CVNAGet a Free Report) last released its quarterly earnings results on Wednesday, May 1. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analysts’ estimate of $2.72 billion. Analysts as a group are forecasting that Carvana will report -0.75 EPS for the current year.

Insider Event

In other news, major shareholder Ernest C. Garcia II He sold 75,000 shares of Carvana stock in a transaction that occurred on Monday, May 6. The shares were sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the sale, the insider now owns 2,917,500 shares of the company, valued at $365,942,025. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be found at: SEC websiteIn related news, majority shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.43, for a total value of $9,407,250.00. Following the completion of the sale, the insider now owns 2,917,500 shares of the company, valued at $365,942,025. The sale was disclosed in a legal filing with the SEC, which can be accessed at: this linkAlso, an insider Thomas Taira sold 68,556 shares of Carvana stock in a transaction that occurred on Friday, June 14. The stock was sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the completion of the sale, the insider now owns 186,397 shares of the company’s stock, valued at approximately $19,150,427.78. A disclosure regarding this sale can be found at: Here. Company insiders sold 2,098,946 shares of company stock worth $236,826,806 in the last 90 days. Company insiders own 17.18% of the company’s stock.

Carvana Corporate Business

A number of hedge funds and other institutional investors recently made changes to their positions in CVNA. Vanguard Group Inc. increased its stake in Carvana shares by 0.7% in the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Diversified Trust Co. increased its stake in Carvana by 6.0% in 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 during the period. SG Americas Securities LLC acquired a new position in Carvana in the fourth quarter worth $117,000. Raymond James Financial Services Advisors Inc. increased its stake in Carvana by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock worth $2,947,000 after purchasing an additional 1,125 shares during the period. Finally, PFG Investments LLC increased its holdings in Carvana by 2.5% in the fourth quarter. PFG Investments LLC now owns 25,438 shares of the company’s stock worth $1,347,000 after purchasing an additional 615 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

(Get a Free Report)

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 describe a vehicle; inspect it using the company’s 360-degree vehicle viewing technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pickup from their desktop or mobile devices.

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