TD Asset Management Inc Sells 11,741 Shares of Carvana Co. $CVNA

Key Points

• TD Asset Management Inc reduced its position in Carvana by 8.5%, selling 11,741 shares and owning 127,168 shares valued at $42.85 million at the end of the last quarter.
• Insider sales included CFO Mark W. Jenkins selling 12,750 shares and COO Benjamin E. Huston selling 10,000 shares, both at an average price of $389.27 on October 1st.
• Carvana's stock dropped 3.1% recently, with analysts maintaining a "Moderate Buy" consensus rating and a target price averaging around $407.44.

TD Asset Management Inc trimmed its stake in Carvana Co. (NYSE:CVNA - Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,168 shares of the company's stock after selling 11,741 shares during the period. TD Asset Management Inc owned 0.06% of Carvana worth $42,851,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CVNA. Yousif Capital Management LLC raised its position in shares of Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after acquiring an additional 50 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Carvana by 31.4% in the 1st quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $215,000 after acquiring an additional 246 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Carvana in the 1st quarter worth $204,000. United Advisor Group LLC bought a new position in shares of Carvana in the 1st quarter worth $233,000. Finally, Praxis Investment Management Inc. raised its position in shares of Carvana by 56.0% in the 1st quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company's stock worth $920,000 after acquiring an additional 1,580 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 12,750 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total value of $4,963,192.50. Following the sale, the chief financial officer owned 207,362 shares in the company, valued at $80,719,805.74. This represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 10,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total value of $3,892,700.00. Following the completion of the sale, the chief operating officer owned 103,197 shares in the company, valued at $40,171,496.19. The trade was a 8.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,678,292 shares of company stock worth $608,812,907. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Down 3.1%

Carvana stock opened at $344.35 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. The business's 50-day simple moving average is $364.40 and its two-hundred day simple moving average is $318.44. The company has a market cap of $74.10 billion, a PE ratio of 86.30, a PEG ratio of 1.16 and a beta of 3.55. Carvana Co. has a fifty-two week low of $148.25 and a fifty-two week high of $413.33.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company's quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. Equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVNA. Gordon Haskett initiated coverage on Carvana in a research report on Monday, July 14th. They issued a "hold" rating and a $329.00 price target for the company. Wells Fargo & Company upped their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Jefferies Financial Group set a $475.00 target price on Carvana and gave the company a "buy" rating in a research report on Wednesday, October 1st. Wall Street Zen raised Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Finally, Stephens reaffirmed an "overweight" rating and set a $440.00 target price on shares of Carvana in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $407.44.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.