127,593 Shares in Carvana Co. (NYSE:CVNA) Purchased by Bank of Nova Scotia

Bank of Nova Scotia acquired a new position in Carvana Co. (NYSE:CVNA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 127,593 shares of the company's stock, valued at approximately $25,947,000. Bank of Nova Scotia owned approximately 0.06% of Carvana at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC bought a new stake in Carvana in the fourth quarter valued at $28,000. Global Retirement Partners LLC grew its stake in shares of 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 period. Rialto Wealth Management LLC bought a new stake in Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in Carvana during the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc acquired a new stake in Carvana in the fourth quarter valued at approximately $42,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA stock traded up $12.43 on Tuesday, hitting $217.16. 2,783,886 shares of the stock were exchanged, compared to its average volume of 4,886,510. The firm's 50 day moving average is $215.18 and its two-hundred day moving average is $220.82. Carvana Co. has a one year low of $67.61 and a one year high of $292.84. The firm has a market capitalization of $46.29 billion, a PE ratio of 138.32 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.

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Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Sell-side analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, insider Thomas Taira sold 27,593 shares of the 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 sale, the insider now directly owns 179,673 shares of the company's stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,810 shares of company stock worth $69,243,820. Corporate insiders own 17.12% of the company's stock.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Stephens reiterated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. DA Davidson boosted their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Finally, Citigroup decreased their price objective on Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and an average target price 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.