Carvana Sees Unusually Large Options Volume (NYSE:CVNA)

Carvana Co. (NYSE:CVNA) saw unusually large options trading on Thursday. Stock investors purchased 111,176 put options on the company. This represents an increase of approximately 49% compared to the typical volume of 74,809 put options.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,784 shares of company stock worth $27,524,344 over the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC boosted its position in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after purchasing an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $191.38 on Friday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a market cap of $40.80 billion, a price-to-earnings ratio of 121.90 and a beta of 3.56. The company’s fifty day moving average is $227.57 and its 200 day moving average is $214.47. Carvana has a twelve month low of $67.61 and a twelve month high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Sell-side analysts forecast that Carvana will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVNA shares. DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Thursday. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Carvana Company Profile

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.