Shares of Carvana Co. (NYSE:CVNA – Get Rating) gapped down before the market opened on Friday after Cowen lowered their price target on the stock from $10.00 to $7.00. The stock had previously closed at $10.08, but opened at $8.89. Carvana shares last traded at $8.15, with a volume of 7,578,711 shares traded.
A number of other equities research analysts also recently weighed in on CVNA. Needham & Company LLC downgraded Carvana from a “buy” rating to a “hold” rating in a report on Friday, December 9th. Bank of America downgraded Carvana from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 30th. Robert W. Baird downgraded Carvana from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 22nd. Piper Sandler dropped their price target on Carvana from $45.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 16th. Finally, Bank Of America (Bofa) downgraded Carvana to a “neutral” rating in a research note on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Carvana currently has an average rating of “Hold” and an average target price of $33.25.
Institutional Trading of Carvana
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Carvana by 944.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 14,049 shares of the company’s stock worth $67,000 after purchasing an additional 12,704 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Carvana during the fourth quarter worth about $2,088,000. Public Employees Retirement System of Ohio grew its holdings in shares of Carvana by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 53,467 shares of the company’s stock worth $253,000 after purchasing an additional 1,121 shares during the last quarter. Capstone Financial Advisors Inc. bought a new stake in shares of Carvana during the fourth quarter worth about $95,000. Finally, Spruce House Investment Management LLC grew its holdings in shares of Carvana by 52.7% during the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock worth $47,400,000 after purchasing an additional 3,450,000 shares during the last quarter. 63.62% of the stock is currently owned by institutional investors.
Carvana Stock Performance
The company has a market capitalization of $1.61 billion, a P/E ratio of -0.91 and a beta of 2.76. The company has a debt-to-equity ratio of 17.69, a current ratio of 2.38 and a quick ratio of 1.01. The company has a fifty day moving average price of $7.85 and a two-hundred day moving average price of $17.15.
About Carvana
Carvana Co is a holding company and an eCommerce platform, engages in the buying of used cars and provision of different and convenient car buying experiences. It operates through the following segments: Vehicle Sales, Wholesale Vehicle Sales, and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle sales to customers through its website.