TD Waterhouse Canada Inc. Boosts Stake in Carvana Co. $CVNA

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

A number of other institutional investors and hedge funds have also bought and sold shares of CVNA. Price T Rowe Associates Inc. MD lifted its stake in Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. State Street Corp grew its holdings in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after buying an additional 1,382,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after buying an additional 2,579,295 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael E. Maroone acquired 25,000 shares of Carvana stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $61.80 per share, for a total transaction of $1,545,000.00. Following the completion of the transaction, the director owned 168,573 shares in the company, valued at $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Benjamin Huston sold 50,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the transaction, the chief operating officer directly owned 478,693 shares in the company, valued at approximately $34,250,484.15. This represents a 9.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 400,775 shares of company stock valued at $27,522,038 over the last three months. Corporate insiders own 15.19% of the company’s stock.

Carvana Stock Down 1.6%

CVNA stock opened at $73.49 on Thursday. The business has a 50 day moving average of $69.40 and a 200 day moving average of $68.39. The firm has a market cap of $80.87 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.15 and a beta of 3.49. Carvana Co. has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS 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 company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the firm posted $1.51 EPS. Carvana’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, research analysts forecast that Carvana Co. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVNA. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Carvana in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Hovde Group increased their target price on shares of Carvana from $39.50 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, August 4th. Citigroup reissued a “market outperform” rating on shares of Carvana in a research note on Monday, August 31st. Finally, Royal Bank Of Canada set a $82.00 price target on Carvana and gave the company an “outperform” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.14.

Carvana 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.