Wellington Management Group LLP Sells 46,212 Shares of Carvana Co. (NYSE:CVNA)

Wellington Management Group LLP reduced its stake in Carvana Co. (NYSE:CVNA) by 57.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,785 shares of the company’s stock after selling 46,212 shares during the quarter. Wellington Management Group LLP’s holdings in Carvana were worth $6,056,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. acquired a new position in shares of Carvana in the 3rd quarter valued at approximately $50,531,000. Driehaus Capital Management LLC lifted its stake in Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after purchasing an additional 323,153 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Carvana by 6.9% in the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after purchasing an additional 13,400 shares in the last quarter. Integrated Advisors Network LLC increased its stake in shares of Carvana by 89.2% in the 3rd quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after purchasing an additional 24,996 shares during the last quarter. Finally, Colonial River Investments LLC bought a new position in shares of Carvana in the 3rd quarter valued at $786,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.46, for a total transaction of $16,846,000.00. Following the completion of the sale, the insider now owns 39,858,131 shares of the company’s stock, valued at $6,714,500,748.26. This trade represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the completion of the transaction, the insider now directly owns 119,494 shares in the company, valued at approximately $23,659,812. This trade represents a 10.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,971,908 shares of company stock valued at $379,874,785 over the last quarter. Insiders own 17.12% of the company’s stock.

Carvana Trading Up 3.0 %

Shares of CVNA stock opened at $255.69 on Tuesday. The stock has a 50-day moving average of $230.16 and a 200-day moving average of $170.44. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market cap of $53.09 billion, a price-to-earnings ratio of 25,569.00 and a beta of 3.32. Carvana Co. has a 1-year low of $40.21 and a 1-year high of $268.34.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. On average, equities research analysts forecast that Carvana Co. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVNA. Needham & Company LLC upped their price objective on Carvana from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird increased their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Piper Sandler boosted their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $222.71.

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.