Uncovering Institutional Buying In Carvana Co (NYSE: CVNA)

Currently, there are 128.51M common shares owned by the public and among those 115.09M shares have been available to trade.

The company’s stock has a 5-day price change of 6.58% and 64.29% over the past three months. CVNA shares are trading 392.63% year to date (YTD), with the 12-month market performance up to 730.31% higher. It has a 12-month low price of $29.84 and touched a high of $263.61 over the same period. CVNA has an average intraday trading volume of 2.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.57%, 26.53%, and 96.18% respectively.

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Institutional ownership of Carvana Co (NYSE: CVNA) shares accounts for 85.66% of the company’s 128.51M shares outstanding.

It has a market capitalization of $56.54B and a beta (3y monthly) value of 3.34. The stock’s trailing 12-month PE ratio is 31047.62, while the earnings-per-share (ttm) stands at $0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.22% over the week and 4.14% over the month.

Earnings per share for the fiscal year are expected to increase by 90.97%, and 79.13% over the next financial year.

Looking at the support for the CVNA, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on November 05, 2024, with the firm’s price target at $110-$260. BofA Securities coverage for the Carvana Co (CVNA) stock in a research note released on September 17, 2024 offered a Buy rating with a price target of $185. Evercore ISI was of a view on September 16, 2024 that the stock is In-line, while Stephens gave the stock Overweight rating on September 12, 2024, issuing a price target of $190. Wells Fargo on their part issued Overweight rating on August 01, 2024.

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