Investors Purchase High Volume of Carvana Put Options (NYSE:CVNA)

Carvana Co. (NYSE:CVNA) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 111,176 put options on the stock. This is an increase of 49% compared to the average volume of 74,809 put options.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore ISI lowered their price objective on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Robert W. Baird upped their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada raised their target price on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average price target of $262.71.

Insiders Place Their Bets

In related news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,784 shares of company stock valued at $27,524,344. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC acquired a new stake in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC increased its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana in the fourth quarter valued at about $31,000. ORG Wealth Partners LLC bought a new stake in Carvana during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana in the 4th quarter valued at approximately $42,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Up 5.3 %

Shares of NYSE:CVNA traded up $9.32 during midday trading on Thursday, reaching $185.41. 8,290,774 shares of the company were exchanged, compared to its average volume of 4,491,899. The firm has a market cap of $39.52 billion, a PE ratio of 118.10 and a beta of 3.56. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The stock has a fifty day simple moving average of $227.84 and a two-hundred day simple moving average of $214.38.

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 company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, sell-side analysts forecast that Carvana will post 2.85 earnings per share for the current 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.