TD Waterhouse Canada Inc. Has $998,000 Stake in Carvana Co. $CVNA

TD Waterhouse Canada Inc. lifted its stake in shares of Carvana Co. (NYSE:CVNA) by 467.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,697 shares of the company’s stock after purchasing an additional 12,105 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Carvana were worth $998,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVNA. Royal Bank of Canada lifted its holdings in shares of Carvana by 40.8% in the first quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after acquiring an additional 8,654 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after purchasing an additional 181 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Carvana by 28.8% during the second quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock valued at $1,847,000 after purchasing an additional 1,226 shares in the last quarter. AXA S.A. grew its holdings in shares of Carvana by 340.7% during the second quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Carvana by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock valued at $3,334,000 after buying an additional 825 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CVNA shares. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada set a $82.00 price target on Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. Jefferies Financial Group lowered their price objective on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 target price on shares of Carvana in a research report on Friday, July 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Carvana in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Insider Transactions at Carvana

In other news, Director Ira Platt sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $75.50, for a total value of $1,132,500.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at $14,078,485. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stephen Palmer sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $357,750.00. Following the completion of the transaction, the vice president owned 128,886 shares of the company’s stock, valued at $9,221,793.30. This trade represents a 3.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 400,775 shares of company stock worth $27,522,038. Company insiders own 15.19% of the company’s stock.

Carvana Stock Down 1.6%

Shares of NYSE CVNA opened at $73.49 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The company has a 50-day moving average price of $69.40 and a 200-day moving average price of $68.39. The stock has a market capitalization of $80.87 billion, a P/E ratio of 40.65, a P/E/G ratio of 2.15 and a beta of 3.49. Carvana Co. has a 1 year low of $54.46 and a 1 year high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. On average, equities research analysts forecast that Carvana Co. will post 1.68 EPS for the current fiscal year.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.