Wellington Management Group LLP Lowers Holdings in Carvana Co. $CVNA

Wellington Management Group LLP decreased its holdings in Carvana Co. (NYSE:CVNA) by 47.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,058 shares of the company’s stock after selling 191,275 shares during the period. Wellington Management Group LLP’s holdings in Carvana were worth $14,155,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. bought a new stake in Carvana during the 4th quarter valued at approximately $29,000. Motiv8 Investments LLC bought a new position in Carvana in the 4th quarter worth approximately $33,000. Ascentis Independent Advisors bought a new position in Carvana in the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Carvana during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director J Quayle sold 14,525 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.00, for a total value of $1,089,375.00. Following the completion of the sale, the director owned 214,960 shares in the company, valued at approximately $16,122,000. This trade represents a 6.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $3,577,500.00. Following the transaction, the chief operating officer directly owned 478,693 shares of the company’s stock, valued at approximately $34,250,484.15. This represents a 9.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 415,300 shares of company stock valued at $28,538,788. 15.19% of the stock is currently owned by company insiders.

Carvana Stock Performance

NYSE:CVNA opened at $74.65 on Tuesday. The stock’s fifty day moving average is $69.11 and its 200 day moving average is $68.35. Carvana Co. has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The firm has a market capitalization of $82.15 billion, a PE ratio of 41.29, a PEG ratio of 2.15 and a beta of 3.49. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. On average, sell-side analysts anticipate that Carvana Co. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVNA shares. BTIG Research reissued a “buy” rating and issued a $87.00 target price on shares of Carvana in a report on Tuesday, August 18th. Weiss Ratings raised shares of Carvana from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Barclays reduced their price target on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Evercore set a $75.00 price target on shares of Carvana in a research note on Thursday, July 30th. Finally, Citizens Jmp dropped their price objective on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.