Unusual Put Option Trade in Carvana Worth $411.84K

On May 19, 2023 at 11:36:25 ET an unusually large $411.84K block of Put contracts in Carvana Co. – (CVNA) was bought, with a strike price of $10.00 / share, expiring in 91 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.09 sigmas above the mean, placing it in the 97.68th percentile of all recent large trades made in CVNA options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 459 funds or institutions reporting positions in Carvana Co. -. This is a decrease of 95 owner(s) or 17.15% in the last quarter. Average portfolio weight of all funds dedicated to CVNA is 0.29%, an increase of 62.62%. Total shares owned by institutions decreased in the last three months by 8.99% to 122,214K shares. The put/call ratio of CVNA is 1.07, indicating a bearish outlook.

Analyst Price Forecast Suggests 15.22% Downside

As of May 11, 2023, the average one-year price target for Carvana Co. – is 10.14. The forecasts range from a low of 1.01 to a high of $22.05. The average price target represents a decrease of 15.22% from its latest reported closing price of 11.96.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Carvana Co. – is 14,551MM, an increase of 14.46%. The projected annual non-GAAP EPS is -7.50.

What are Other Shareholders Doing?

Baillie Gifford holds 14,058K shares representing 13.24% ownership of the company. In it’s prior filing, the firm reported owning 14,169K shares, representing a decrease of 0.79%. The firm increased its portfolio allocation in CVNA by 77.43% over the last quarter.

Spruce House Investment Management holds 10,000K shares representing 9.42% ownership of the company. No change in the last quarter.

Greenoaks Capital Partners holds 7,370K shares representing 6.94% ownership of the company. No change in the last quarter.

CAS Investment Partners holds 6,828K shares representing 6.43% ownership of the company. No change in the last quarter.

Exor Capital LLP holds 5,184K shares representing 4.88% ownership of the company.

Carvana Background Information
(This description is provided by the company.)

Founded in 2012 and based in Phoenix, Carvana’s mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. enables consumers to quickly and easily shop more than 20,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.

Key filings for this company:

This article originally appeared on Fintel

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