Carvana Sees Unusually High Options Volume (NYSE:CVNA)
Carvana Co. (NYSE:CVNA) experienced unusually high options trading activity, with investors purchasing 117,977 call options on the stock, a 32% increase compared to the average daily volume. Several equities research analysts have provided ratings and price targets for Carvana, with the stock currently having an average rating of "Hold" and an average price target of $87.29. Carvana's stock price traded up to $128.28 on Tuesday. Insiders have also been active in selling shares of the company. Large institutional investors have recently modified their holdings of CVNA.
Carvana Co. (NYSE:CVNA - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 117,977 call options on the company. This is an increase of 32% compared to the typical daily volume of 89,330 call options.
Wall Street Analyst Weigh In
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A number of equities research analysts have commented on the company. Royal Bank of Canada lifted their target price on Carvana from $90.00 to $130.00 and gave the company a "sector perform" rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Carvana in a research report on Thursday, May 2nd. JMP Securities increased their target price on shares of Carvana from $135.00 to $150.00 and gave the stock a "market outperform" rating in a research note on Friday, June 7th. TD Cowen boosted their price target on shares of Carvana from $58.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, April 29th. Finally, Robert W. Baird increased their price objective on shares of Carvana from $65.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $87.29.
Get Our Latest Research Report on Carvana
Carvana Trading Up 7.3 %
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CVNA traded up $8.78 on Tuesday, hitting $128.28. 5,404,483 shares of the company were exchanged, compared to its average volume of 5,585,726. The firm has a 50-day moving average price of $103.05 and a two-hundred day moving average price of $76.21. Carvana has a twelve month low of $20.60 and a twelve month high of $129.00. The company has a market cap of $25.99 billion, a price-to-earnings ratio of 55.82 and a beta of 3.29.
Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Equities analysts expect that Carvana will post -0.75 EPS for the current year.
Insider Activity at Carvana
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In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total transaction of $433,750.00. Following the completion of the transaction, the vice president now owns 62,514 shares of the company's stock, valued at $5,423,089.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the transaction, the insider now directly owns 3,312,500 shares of the company's stock, valued at approximately $265,430,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen R. Palmer sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total value of $433,750.00. Following the transaction, the vice president now owns 62,514 shares in the company, valued at $5,423,089.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,666,829 shares of company stock valued at $177,093,283. 17.18% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Carvana
A number of large investors have recently modified their holdings of CVNA. Blue Trust Inc. acquired a new position in shares of Carvana during the 4th quarter worth about $29,000. Parallel Advisors LLC boosted its holdings in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company's stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Tidemark LLC purchased a new position in Carvana in the fourth quarter valued at approximately $50,000. Plato Investment Management Ltd acquired a new stake in Carvana during the first quarter worth approximately $55,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Carvana during the 3rd quarter worth approximately $64,000. 56.71% of the stock is owned by hedge funds and other institutional investors.
About Carvana
(Get Free Report)Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.
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