Carvana Co. (NYSE:CVNA – Get Free Report) was the recipient of unusually heavy options trading activity on Friday. Equity investors bought 107,789 call options on the stock. That was an increase of about 39% compared to the typical volume of 77,470 call options.
Buy and sell insider
In related news, majority owner Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $80.09, for a total transaction of $4,004,500.00. Following the sale, the insider now directly owns 3,262,500 shares of the company’s stock, valued at $261,293,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible at this link. In other news, majority owner Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $80.09, for a total transaction value of $4,004,500.00. Following the sale, the insider now directly owns 3,262,500 shares of the company’s stock, valued at $261,293,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this hyperlink. Also, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the sale, the chief operating officer now directly owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The disclosure for this sale can be found here. Insiders sold a total of 2,173,946 shares of the company’s stock, valued at $246,635,306 in the last 90 days. Insiders own 17.12% of the company’s shares.
Institutional Trading in Carvana
Several institutional investors have recently added to or reduced their stakes in CVNA. Vanguard Group Inc. increased its stake in shares of Carvana by 0.7% in the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Diversified Trust Co increased its stake in shares of Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Carvana in the fourth quarter worth $117,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Carvana by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock worth $2,947,000 after acquiring an additional 1,125 shares in the last quarter. Finally, PFG Investments LLC increased its position in Carvana by 2.5% in the 4th quarter. PFG Investments LLC now owns 25,438 shares of the company’s stock worth $1,347,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.
Carvana Price Performance
NYSE:CVNA opened Friday at $136.24. The company has a market cap of $27.60 billion, a PE ratio of 59.75, and a beta of 3.37. Carvana has a 12-month low of $25.09 and a 12-month high of $140.91. The company’s 50-day moving average is $115.83 and its 200-day moving average is $83.64.
Carvana (NYSE:CVNA – Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Equity analysts expect Carvana to post -0.75 EPS for the current year.
Analysts set new price targets
Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Evercore ISI raised their price target on Carvana from $118.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. JMP Securities reiterated a “market outperform” rating and gave a $150.00 price target on shares of Carvana in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Finally, Robert W. Baird raised their price target on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, and five have given a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.13.
Get our latest stock analysis on Carvana
About Carvana
(Get free report)
Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The platform enables customers to research and identify a vehicle; inspect it using the company’s 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pickup from their desktop or mobile devices.
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