Wellington Management Group LLP Purchases Shares of 88,842 Carvana Co. (NYSE:CVNA)

Wellington Management Group LLP acquired a new position in shares of Carvana Co. (NYSE:CVNA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 88,842 shares of the company’s stock, valued at approximately $4,703,000.

A number of other large investors have also made changes to their positions in CVNA. Parallel Advisors LLC increased its holdings in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the period. Diversified Trust Co lifted its stake in Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares during the period. Blue Trust Inc. acquired a new stake in Carvana during the fourth quarter valued at approximately $29,000. Neuberger Berman Group LLC grew its stake in shares of Carvana by 10.2% in the 4th quarter. Neuberger Berman Group LLC now owns 6,543 shares of the company’s stock valued at $346,000 after purchasing an additional 606 shares during the period. Finally, PFG Investments LLC raised its holdings in shares of Carvana by 2.5% in the 4th quarter. PFG Investments LLC now owns 25,438 shares of the company’s stock worth $1,347,000 after buying an additional 615 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Activity at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 9,390 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the sale, the chief executive officer now directly owns 861,458 shares in the company, valued at $71,354,566.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Carvana news, CEO Ernest C. Garcia III sold 9,390 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now owns 861,458 shares in the company, valued at approximately $71,354,566.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total value of $9,522,750.00. Following the transaction, the insider now owns 787,500 shares of the company’s stock, valued at $99,988,875. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,801,829 shares of company stock worth $193,562,233. 17.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Robert W. Baird upped their target price on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. JMP Securities increased their target price on shares of Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Evercore ISI boosted their price target on shares of Carvana from $111.00 to $118.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of “Hold” and an average target price of $87.29.

Carvana Stock Down 3.1 %

Shares of CVNA stock opened at $128.72 on Friday. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 56.46 and a beta of 3.29. Carvana Co. has a 12 month low of $23.43 and a 12 month high of $136.92. The stock has a 50-day moving average price of $107.74 and a 200 day moving average price of $78.46.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. Sell-side analysts predict that Carvana Co. will post -0.75 earnings per share for the current fiscal year.

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.