Carvana Co (NYSE:CVNA) shares rose 6% on Friday . The stock traded as high as $18.62 and last traded at $18.03. Approximately 707,515 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 450,798 shares. The stock had previously closed at $17.01.
CVNA has been the subject of several recent analyst reports. Deutsche Bank cut Carvana from a “buy” rating to a “hold” rating and boosted their price target for the stock from $22.00 to $23.50 in a research note on Friday, December 8th. ValuEngine cut Carvana from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Robert W. Baird boosted their price target on Carvana from $17.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 5th. B. Riley restated a “sell” rating and issued a $12.00 price target on shares of Carvana in a research note on Monday, December 4th. Finally, Zacks Investment Research cut Carvana from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Carvana currently has a consensus rating of “Hold” and a consensus price target of $20.18.
The company has a current ratio of 1.60, a quick ratio of 0.71 and a debt-to-equity ratio of 0.27.
In related news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $22.65, for a total transaction of $24,951,783.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.69% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CVNA. Teachers Advisors LLC purchased a new stake in Carvana during the second quarter valued at $568,000. TIAA CREF Investment Management LLC purchased a new stake in Carvana during the second quarter valued at $828,000. Nationwide Fund Advisors bought a new stake in Carvana during the second quarter valued at about $177,000. New York State Common Retirement Fund bought a new stake in Carvana during the second quarter valued at about $332,000. Finally, Northern Trust Corp bought a new stake in Carvana during the second quarter valued at about $3,354,000. Institutional investors own 14.75% of the company’s stock.
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Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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