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

Toronto Dominion Bank acquired a new stake in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,361 shares of the company's stock, valued at approximately $3,124,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC increased its stake in Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock valued at $313,000 after buying an additional 51 shares during the last quarter. Bleakley Financial Group LLC increased its stake 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 buying an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Carvana by 21.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after buying an additional 74 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after buying an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Carvana Price Performance

NYSE:CVNA traded up $8.06 during midday trading on Tuesday, hitting $312.17. The company had a trading volume of 2,183,441 shares, compared to its average volume of 3,951,129. Carvana Co. has a 52-week low of $97.55 and a 52-week high of $313.10. The stock's fifty day moving average price is $235.81 and its 200-day moving average price is $232.98. The company has a market capitalization of $66.85 billion, a PE ratio of 198.60 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (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 analyst estimates of $3.94 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The firm's quarterly revenue was up 38.3% compared to the same quarter last year. As a group, research analysts expect that Carvana Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. JMP Securities decreased their price target on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird raised their price target on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Royal Bank of Canada raised their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Evercore ISI decreased their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Carvana has an average rating of "Moderate Buy" and a consensus price target of $275.65.

Insiders Place Their Bets

In other Carvana news, insider Thomas Taira sold 27,593 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. This trade represents a 13.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $303.97, for a total transaction of $3,039,700.00. Following the completion of the transaction, the chief executive officer now owns 845,000 shares of the company's stock, valued at approximately $256,854,650. The trade was a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 620,313 shares of company stock valued at $154,623,772 over the last three months. Insiders own 17.12% of the company's stock.

Carvana Company Profile

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.