Carvana surged to $146.52 per share this morning, but it remains 8.67% above its mean target price of $134.83. There may still be room for more downwards movement — even after today's 10.0% drop. Analysts are giving the Large-Cap Auto Retail stock on average rating of hold, with target prices ranging from $54.0 to $200.0 per share.
The stock has an unusually large proportion of its shares sold short at 19.8%, and a short ratio of 3.76. The company's insiders own 5.7% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 98.4% of Carvana's shares being owned by this investor type.
Institutions Invested in Carvana
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Morgan Stanley | 13% | 14,712,804 | $2,155,720,104 |
| 2024-03-31 | Vanguard Group Inc | 9% | 10,290,551 | $1,507,771,576 |
| 2024-03-31 | Blackrock Inc. | 7% | 7,981,049 | $1,169,383,333 |
| 2024-03-31 | Price (T.Rowe) Associates Inc | 6% | 7,459,065 | $1,092,902,235 |
| 2024-03-31 | CAS Investment Partners, LLC | 6% | 6,530,894 | $956,906,616 |
| 2024-03-31 | Greenoaks Capital Partners LLC | 5% | 6,015,032 | $881,322,514 |
| 2024-03-31 | Spruce House Investment Management LLC | 4% | 5,000,000 | $732,600,021 |
| 2024-03-31 | Shaw D.E. & Co., Inc. | 4% | 4,483,749 | $656,958,922 |
| 2024-03-31 | FMR, LLC | 3% | 3,792,625 | $555,695,431 |
| 2024-03-31 | Lingotto Investment Management Llp | 3% | 3,723,914 | $545,627,895 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Carvana.
