Carvana Co. (NYSE: CVNA) stock fell -1.02% on Friday to $32.03 against a previous-day closing price of $32.36. With 6.08 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.72 million shares. During the session, the Auto & Truck Dealerships company that operates in wider Consumer Cyclical sector, reached to the highest price of $32.79 whereas the lowest price it dropped to was $31.06. The 52-week range on CVNA shows that it touched its highest point at $57.19 and its lowest point at $3.55 during that stretch. It currently has a 1-year price target of $34.12. Beta for the stock currently stands at 3.07.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CVNA was up-trending over the past week, with a rise of 9.73%, but this was up by 1.39% over a month. Three-month performance dropped to -20.60% while six-month performance rose 198.23%. The stock gained 274.62% in the past year, while it has gained 575.74% so far this year. A look at the trailing 12-month EPS for CVNA yields -5.87 with Next year EPS estimates of -3.16. For the next quarter, that number is -0.83. This implies an EPS growth rate of 79.20% for this year and 3.50% for next year.
Float and Shares Shorts:
At present, 106.04 million CVNA shares are outstanding with a float of 92.67 million shares on hand for trading. On Oct 30, 2023, short shares totaled 32.66 million, which was 28.64% higher than short shares on Sep 28, 2023. In addition to Mr. Ernest C. Garcia III as the firm’s Co-Founder, President, CEO & Chairman, Mr. Benjamin Huston serves as its Co-Founder & COO.
Institutional Ownership:
Through their ownership of 94.96% of CVNA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.92% of CVNA, in contrast to 39.18% held by mutual funds. Shares owned by individuals account for 16.80%. As the largest shareholder in CVNA with 13.26% of the stake, Morgan Stanley Investment Managem holds 14,125,212 shares worth 14,125,212. A second-largest stockholder of CVNA, Spruce House Investment Managemen, holds 10,000,000 shares, controlling over 9.39% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CVNA, holding 9,154,736 shares or 8.59% stake. With a 3.05% stake in CVNA, the Morgan Stanley Instl. Fund-Growth is the largest stakeholder. A total of 3,251,979 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.81% of CVNA stock, is the second-largest Mutual Fund holder. It holds 2,998,163 shares valued at 80.95 million. T Rowe Price Blue Chip Growth Fun holds 2.46% of the stake in CVNA, owning 2,619,236 shares worth 70.72 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CVNA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CVNA analysts setting a high price target of $60.00 and a low target of $15.00, the average target price over the next 12 months is $34.13. Based on these targets, CVNA could surge 87.32% to reach the target high and fall by -53.17% to reach the target low. Reaching the average price target will result in a growth of 6.56% from current levels.
Summary of Insider Activity:
Insiders traded CVNA stock several times over the past three months with 0 Buys and 18 Sells. In these transactions, 0 shares were bought while 38,915 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 100 over the past year. The total number of shares bought during that period was 1,149,584 while 214,303 shares were sold.
