Carvana (NYSE:CVNA) Price Target Increased to $155.00 by Analysts at JPMorgan Chase & Co.

Carvana (NYSE:CVNA - Get Free Report) had its price target increased by stock analysts at JPMorgan Chase & Co. from $150.00 to $155.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 14.52% from the stock's previous close.

• This Stock's Price Shifts Into High Gear With Analyst Upgrades

CVNA has been the topic of a number of other research reports. William Blair reissued an "outperform" rating on shares of Carvana in a research note on Thursday, May 2nd. JMP Securities reissued a "market outperform" rating and issued a $150.00 price objective on shares of Carvana in a research note on Wednesday, July 10th. Evercore ISI boosted their price objective on Carvana from $135.00 to $140.00 and gave the stock an "in-line" rating in a research note on Tuesday. Needham & Company LLC raised Carvana from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a research note on Wednesday, July 10th. Finally, Wedbush reaffirmed a "neutral" rating and set a $120.00 target price on shares of Carvana in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $97.75.

Get Our Latest Report on Carvana

Carvana Stock Up 4.8 %

• Top 3 High Beta Stocks to Watch in a Low VIX Market

Carvana stock traded up $6.17 during mid-day trading on Friday, hitting $135.35. 1,823,252 shares of the company's stock traded hands, compared to its average volume of 5,525,972. The firm has a 50 day moving average price of $117.34 and a 200 day moving average price of $85.75. The company has a market cap of $27.42 billion, a PE ratio of 59.32 and a beta of 3.37. Carvana has a one year low of $25.09 and a one year high of $147.25.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, analysts expect that Carvana will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

• Advance Auto Parts Pivots Strategy to Compete with Rivals

In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the business's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $80.09, for a total value of $4,004,500.00. Following the transaction, the insider now owns 3,262,500 shares in the company, valued at $261,293,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $80.09, for a total transaction of $4,004,500.00. Following the completion of the sale, the insider now owns 3,262,500 shares in the company, valued at approximately $261,293,625. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the company's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the sale, the insider now owns 114,124 shares of the company's stock, valued at approximately $16,547,980. The disclosure for this sale can be found here. Insiders have sold 2,376,446 shares of company stock worth $274,746,431 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company's stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company's stock worth $530,648,000 after purchasing an additional 655,603 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Carvana during the 2nd quarter worth about $39,997,000. First Trust Advisors LP lifted its position in shares of Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company's stock worth $78,560,000 after purchasing an additional 216,893 shares during the last quarter. Finally, Steadview Capital Management LLC lifted its position in shares of Carvana by 15.6% during the 4th quarter. Steadview Capital Management LLC now owns 876,905 shares of the company's stock worth $46,423,000 after purchasing an additional 118,500 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

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.

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