Wellington Management Group LLP Boosts Position in Carvana Co. (NYSE:CVNA)

Wellington Management Group LLP boosted its position in shares of Carvana Co. (NYSE:CVNA - Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 36,215 shares of the company's stock after purchasing an additional 1,430 shares during the quarter. Wellington Management Group LLP's holdings in Carvana were worth $7,365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Carvana by 37.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,947 shares of the company's stock valued at $1,413,000 after purchasing an additional 1,911 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Carvana during the 4th quarter valued at about $642,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Carvana in the fourth quarter worth approximately $86,636,000. Allstate Corp purchased a new position in shares of Carvana during the fourth quarter valued at approximately $677,000. Finally, DnB Asset Management AS bought a new position in Carvana during the fourth quarter valued at approximately $3,887,000. 56.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $150.90, for a total transaction of $7,545,000.00. Following the transaction, the chief operating officer now owns 123,803 shares in the company, valued at $18,681,872.70. This trade represents a 28.77 % 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. 17.12% of the stock is currently owned by insiders.

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Carvana Price Performance

Shares of Carvana stock traded up $9.28 on Tuesday, hitting $214.01. 3,538,574 shares of the company traded hands, compared to its average volume of 4,074,593. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The business has a 50-day simple moving average of $215.18 and a 200 day simple moving average of $220.82. Carvana Co. has a 52 week low of $67.61 and a 52 week high of $292.84. The stock has a market capitalization of $45.62 billion, a P/E ratio of 136.31 and a beta of 3.61.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVNA shares. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday, March 31st. Stephens reiterated an "overweight" rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Royal Bank of Canada raised their target price on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. JMP Securities lowered their price objective on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler raised shares of Carvana from a "neutral" rating to an "overweight" rating in a report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Carvana presently has an average rating of "Moderate Buy" and an average target price of $253.59.

Carvana Company 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.