Citigroup started coverage on shares of Carvana (NYSE:CVNA) in a report released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $23.00 price objective on the stock.
A number of other equities analysts have also weighed in on CVNA. Robert W. Baird reaffirmed a buy rating and issued a $17.00 target price on shares of Carvana in a research note on Monday, November 20th. ValuEngine lowered shares of Carvana from a hold rating to a sell rating in a research note on Friday, December 1st. B. Riley reaffirmed a sell rating and issued a $12.00 target price on shares of Carvana in a research note on Monday, December 4th. Deutsche Bank lowered shares of Carvana from a buy rating to a hold rating and upped their target price for the stock from $22.00 to $23.50 in a research note on Friday, December 8th. Finally, Zacks Investment Research raised shares of Carvana from a sell rating to a hold rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $20.18.
Shares of Carvana (NYSE CVNA) opened at $18.49 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 0.86. Carvana has a 1 year low of $8.14 and a 1 year high of $24.89. The company has a market cap of $2,450.00 and a price-to-earnings ratio of -14.45.
In other news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $22.65, for a total transaction of $24,951,783.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.69% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Aperimus Capital LLC acquired a new position in shares of Carvana during the 4th quarter worth about $1,602,000. Wells Fargo & Company MN boosted its stake in shares of Carvana by 10.8% during the 3rd quarter. Wells Fargo & Company MN now owns 61,623 shares of the company’s stock worth $905,000 after buying an additional 5,998 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Carvana by 34.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 698,660 shares of the company’s stock worth $10,255,000 after buying an additional 180,631 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Carvana during the 2nd quarter worth about $551,000. Finally, Gator Capital Management LLC acquired a new position in shares of Carvana during the 4th quarter worth about $493,000. Institutional investors own 14.86% 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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