TD Asset Management Inc Increases Holdings in Carvana Co. $CVNA

TD Asset Management Inc raised its holdings in shares of Carvana Co. (NYSE:CVNA) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,811 shares of the company’s stock after purchasing an additional 6,643 shares during the period. TD Asset Management Inc’s holdings in Carvana were worth $50,479,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the period. Washington Trust Advisors Inc. bought a new stake in Carvana in the third quarter valued at $38,000. Steigerwald Gordon & Koch Inc. purchased a new position in Carvana during the 3rd quarter valued at $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Carvana in the 2nd quarter worth $38,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after purchasing an additional 30 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $410.19, for a total transaction of $5,229,922.50. Following the completion of the sale, the chief financial officer owned 202,817 shares of the company’s stock, valued at $83,193,505.23. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $393.04, for a total value of $393,040.00. Following the sale, the vice president owned 37,192 shares in the company, valued at approximately $14,617,943.68. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 390,351 shares of company stock worth $168,588,549 in the last 90 days. Insiders own 17.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CVNA. Jefferies Financial Group reduced their price target on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research report on Monday. Evercore reduced their target price on Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Wells Fargo & Company lowered their target price on Carvana from $525.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Barclays reduced their price target on Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Weiss Ratings raised Carvana from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $440.59.

Carvana Stock Up 5.7%

Shares of NYSE:CVNA opened at $354.03 on Friday. The stock has a fifty day simple moving average of $413.48 and a two-hundred day simple moving average of $381.08. The stock has a market capitalization of $77.02 billion, a price-to-earnings ratio of 44.03 and a beta of 3.57. Carvana Co. has a 12-month low of $148.25 and a 12-month high of $486.89. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The company’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. On average, research analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.