Baird analyst Colin Sebastian raised his price target for Carvana to $53 saying his channel checks indicate the company's "solid momentum" likely continued through Q2. Used car sales trends, online search data, and market launch trajectory support Carvana's ongoing growth and expansion expectations, Sebastian tells investors in a research note. The analyst believes the company is likely gaining market share within existing markets through its accelerated vending machine launch schedule. Sebastian also thinks tariffs, despite being a long-term headwind, may benefit used car sales in the near-term. He keeps an Outperform rating on Carvana.

Welcome to "Fly Insider," The Fly's weekly recap of notable insider stock transactionsNOTABLE INSIDER PURCHASES: Significant insider purchases reported in the prior week from April 15 through April 19 include:Chairman of Ashford (AINC) Montgomery Bennett purchased 200,000 shares of company stock at $4. 91 per share... To see the rest of the story go to thefly.com. See Story Here