Toronto Dominion Bank Invests $3.12 Million in Carvana Co. (NYSE:CVNA)

Toronto Dominion Bank acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,361 shares of the company's stock, valued at approximately $3,124,000.

A number of other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC lifted its holdings in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock worth $313,000 after buying an additional 51 shares during the last quarter. Bleakley Financial Group LLC increased its position in Carvana by 2.8% in the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock valued at $483,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC increased its position in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after purchasing an additional 74 shares during the period. Great Lakes Advisors LLC increased its position in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after purchasing an additional 77 shares during the period. Finally, Global Retirement Partners LLC increased its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after purchasing an additional 78 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. DA Davidson boosted their price target on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Citigroup upped their target price on Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their price target on Carvana from $290.00 to $310.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $275.65.

Carvana Trading Up 1.8%

Shares of NYSE:CVNA traded up $5.73 during mid-day trading on Wednesday, reaching $318.64. 997,602 shares of the company's stock were exchanged, compared to its average volume of 3,942,849. The firm has a market capitalization of $68.23 billion, a price-to-earnings ratio of 202.91 and a beta of 3.61. The business's fifty day moving average price is $238.36 and its 200-day moving average price is $233.54. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. Carvana Co. has a twelve month low of $97.55 and a twelve month high of $320.16.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm's revenue for the quarter was up 38.3% on a year-over-year basis. On average, research analysts predict that Carvana Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $300.24, for a total transaction of $3,002,400.00. Following the sale, the chief executive officer now owns 820,000 shares of the company's stock, valued at $246,196,800. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 620,313 shares of company stock worth $154,623,772 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

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.