Bank of Nova Scotia Takes $25.95 Million Position in Carvana Co. (NYSE:CVNA)

Bank of Nova Scotia bought a new stake in Carvana Co. (NYSE:CVNA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 127,593 shares of the company’s stock, valued at approximately $25,947,000. Bank of Nova Scotia owned 0.06% of Carvana at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVNA. Quent Capital LLC bought a new position in Carvana during the 4th quarter worth about $28,000. Global Retirement Partners LLC grew its holdings 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 acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in Carvana during the 4th quarter worth about $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana during the 4th quarter worth about $42,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the completion of the sale, the chief operating officer now owns 123,803 shares in the company, valued at $18,681,872.70. This represents a 28.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,810 shares of company stock valued at $69,243,820 over the last three months. 16.36% of the stock is owned by corporate insiders.

Carvana Stock Up 24.5 %

Shares of NYSE:CVNA opened at $219.60 on Thursday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market capitalization of $46.81 billion, a PE ratio of 139.87 and a beta of 3.61. The firm’s 50-day moving average is $218.19 and its two-hundred day moving average is $219.77. Carvana Co. has a 1 year low of $67.61 and a 1 year high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Analysts predict that Carvana Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CVNA. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Citigroup lowered their price target on shares of Carvana from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird lowered their price target on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Finally, Bank of America lowered their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $253.59.

Carvana 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.