Scotia Capital Inc. Sells 55 Shares of Carvana Co. (NYSE:CVNA)

Scotia Capital Inc. trimmed its holdings in Carvana Co. (NYSE:CVNA) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,143 shares of the company’s stock after selling 55 shares during the quarter. Scotia Capital Inc.’s holdings in Carvana were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in Carvana in the 4th quarter valued at $28,000. Global Retirement Partners LLC raised its stake in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana during the 4th quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in Carvana during the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana in the fourth quarter valued at approximately $42,000. Institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $213.93 on Wednesday. Carvana Co. has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a market cap of $45.60 billion, a PE ratio of 136.26 and a beta of 3.61. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a 50 day moving average of $214.20 and a 200-day moving average of $220.77.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities research analysts forecast that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the transaction, the chief operating officer now owns 196,278 shares in the company, valued at approximately $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 330,810 shares of company stock valued at $69,243,820 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVNA has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Evercore ISI dropped their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Royal Bank of Canada lifted their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $253.59.

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.