Carvana Target of Unusually Large Options Trading (NYSE:CVNA)

Carvana Co. (NYSE:CVNA) was the recipient of unusually large options trading activity on Friday. Investors acquired 107,789 call options on the company. This is an increase of 39% compared to the typical volume of 77,470 call options.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVNA shares. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, May 2nd. Wedbush reiterated a “neutral” rating and issued a $120.00 price objective on shares of Carvana in a research note on Wednesday, June 26th. Robert W. Baird increased their target price 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. Needham & Company LLC upgraded Carvana from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Wednesday. Finally, Royal Bank of Canada raised their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.13.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $80.09, for a total transaction of $4,004,500.00. Following the completion of the transaction, the insider now directly owns 3,262,500 shares in the company, valued at $261,293,625. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction on Friday, April 26th. The shares were sold at an average price of $80.09, for a total value of $4,004,500.00. Following the sale, the insider now directly owns 3,262,500 shares in the company, valued at approximately $261,293,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the transaction, the vice president now owns 56,872 shares of the company’s stock, valued at $4,874,499.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,098,946 shares of company stock valued at $236,826,806. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Carvana by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after purchasing an additional 53,318 shares during the period. Blue Trust Inc. purchased a new position in shares of Carvana in the 4th quarter worth about $29,000. Rafferty Asset Management LLC grew its position in Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after buying an additional 12,193 shares during the period. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its position in Carvana by 17.6% in the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after acquiring an additional 75,000 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Up 4.8 %

CVNA traded up $6.25 during midday trading on Friday, hitting $136.18. The company had a trading volume of 6,884,444 shares, compared to its average volume of 5,587,524. The company has a market capitalization of $27.58 billion, a price-to-earnings ratio of 60.24 and a beta of 3.37. The stock’s 50 day moving average price is $115.54 and its 200 day moving average price is $82.87. Carvana has a 52 week low of $25.09 and a 52 week high of $140.91.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Research analysts predict that Carvana will post -0.75 EPS for the current year.

About Carvana

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.