Robert W. Baird Cuts Carvana (NYSE:CVNA) Price Target to $200.00

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

CVNA has been the topic of several other research reports. Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. dropped their target price on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Wedbush set a $250.00 price target on Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “overweight” rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company cut their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.59.

Carvana Stock Performance

NYSE CVNA opened at $162.54 on Friday. The firm has a market capitalization of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. The stock has a 50-day simple moving average of $223.47 and a two-hundred day simple moving average of $219.76. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings results 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. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. On average, equities analysts forecast that Carvana will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Taira sold 27,593 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This trade represents a 13.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,810 shares of company stock valued at $61,698,820. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVNA. Vanguard Group Inc. raised its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after acquiring an additional 610,234 shares during the period. Lingotto Investment Management LLP increased its holdings in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Durable Capital Partners LP raised its position in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after purchasing an additional 129,246 shares during the period. Geode Capital Management LLC lifted its stake in Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after purchasing an additional 75,250 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after buying an additional 107,610 shares during the period. Institutional investors and hedge funds 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.