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

Carvana Co. (NYSE:CVNAGet Free Report) saw some unusual options trading activity on Tuesday. Traders bought 117,977 call options on the company. This is an increase of approximately 32% compared to the typical volume of 89,330 call options.

Carvana Stock Performance

Shares of NYSE CVNA traded up $8.78 during trading on Tuesday, reaching $128.28. The stock had a trading volume of 5,404,483 shares, compared to its average volume of 5,585,726. The firm’s 50 day moving average price is $103.05 and its two-hundred day moving average price is $76.21. Carvana has a one year low of $20.60 and a one year high of $129.00. The stock has a market cap of $25.99 billion, a PE ratio of 55.82 and a beta of 3.29.

Carvana (NYSE:CVNAGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping 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. On average, research analysts expect that Carvana will post -0.75 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the transaction, the vice president now owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 62,514 shares of the company’s stock, valued at $5,423,089.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Taira sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 161,397 shares in the company, valued at $19,367,640. The disclosure for this sale can be found here. Insiders sold a total of 1,666,829 shares of company stock valued at $177,093,283 in the last 90 days. 17.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

A number of large investors have recently bought and sold shares of the business. UBS Group AG lifted its stake in Carvana by 132.6% in the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after buying an additional 331,892 shares during the last quarter. Deutsche Bank AG boosted its stake in Carvana by 13.8% during the 3rd quarter. Deutsche Bank AG now owns 50,439 shares of the company’s stock valued at $2,117,000 after purchasing an additional 6,129 shares during the period. Rhumbline Advisers grew its position in Carvana by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 149,633 shares of the company’s stock worth $6,282,000 after purchasing an additional 4,785 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Carvana in the third quarter valued at approximately $64,000. Finally, Algert Global LLC raised its holdings in shares of Carvana by 4.3% during the third quarter. Algert Global LLC now owns 37,250 shares of the company’s stock valued at $1,564,000 after buying an additional 1,550 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CVNA. Robert W. Baird raised their target price on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen raised their price objective on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Evercore ISI boosted their price objective on Carvana from $111.00 to $118.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Royal Bank of Canada increased their target price on Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research note on Thursday, May 2nd. Finally, JMP Securities boosted their price target on Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $87.29.

View Our Latest Stock Report on CVNA

Carvana Company Profile

(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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