Carvana Co (NYSE:CVNA) saw unusually large options trading on Monday. Stock investors bought 2,762 put options on the stock. This is an increase of approximately 800% compared to the typical volume of 307 put options.
In related news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of Carvana stock in a transaction on Friday, December 15th. The stock was sold at an average price of $22.65, for a total value of $24,951,783.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.69% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sylebra HK Co Ltd boosted its stake in shares of Carvana by 12.7% in the fourth quarter. Sylebra HK Co Ltd now owns 1,468,304 shares of the company’s stock worth $28,074,000 after acquiring an additional 165,884 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Carvana by 24.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,345,559 shares of the company’s stock worth $25,727,000 after acquiring an additional 262,075 shares during the period. Goodnow Investment Group LLC boosted its stake in shares of Carvana by 45.0% in the third quarter. Goodnow Investment Group LLC now owns 829,142 shares of the company’s stock worth $12,172,000 after acquiring an additional 257,297 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Carvana by 34.9% in the third quarter. Bank of New York Mellon Corp now owns 698,660 shares of the company’s stock worth $10,255,000 after acquiring an additional 180,631 shares during the period. Finally, Brown Advisory Inc. boosted its stake in shares of Carvana by 3.7% in the third quarter. Brown Advisory Inc. now owns 526,339 shares of the company’s stock worth $7,727,000 after acquiring an additional 18,861 shares during the period. 15.15% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on CVNA shares. Zacks Investment Research lowered Carvana from a “buy” rating to a “sell” rating in a report on Thursday, November 2nd. BMO Capital Markets cut their price target on Carvana from $25.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Wedbush reissued a “neutral” rating and set a $14.00 price target (down previously from $20.00) on shares of Carvana in a report on Wednesday, November 8th. Robert W. Baird cut their price target on Carvana from $22.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Finally, JMP Securities cut their price target on Carvana from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Carvana currently has an average rating of “Hold” and an average target price of $19.88.
TRADEMARK VIOLATION WARNING: “Carvana Sees Unusually High Options Volume (CVNA)” was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://www.tickerreport.com/banking-finance/3225694/carvana-sees-unusually-high-options-volume-cvna.html.
Carvana Company Profile
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.