Carvana Sees Unusually Large Options Volume (NYSE:CVNA)

Carvana Co. (NYSE:CVNA) was the target of unusually large options trading on Thursday. Stock traders bought 111,176 put options on the company. This represents an increase of 49% compared to the typical daily volume of 74,809 put options.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wedbush set a $250.00 price target on Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Evercore ISI dropped their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Finally, Piper Sandler raised Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus price target of $262.71.

Insider Buying and Selling

In other news, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,784 shares of company stock worth $27,524,344 in the last three months. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Quent Capital LLC bought a new position in Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC grew its holdings in Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana during the fourth quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in shares of Carvana during the fourth quarter worth approximately $34,000. Finally, Versant Capital Management Inc bought a new stake in shares of Carvana during the fourth quarter worth approximately $42,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

NYSE:CVNA opened at $191.38 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The stock’s 50-day simple moving average is $227.57 and its 200 day simple moving average is $214.47. The company has a market cap of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56. Carvana has a 52-week low of $67.61 and a 52-week high of $292.84.

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

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.