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

Wellington Management Group LLP trimmed its position in Carvana Co. (NYSE:CVNA - Free Report) by 57.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company's stock valued at $486,143,000 after acquiring an additional 52,833 shares during the period. State Street Corp grew its position in shares of Carvana by 6.1% during the third quarter. State Street Corp now owns 1,877,511 shares of the company's stock worth $326,893,000 after acquiring an additional 107,610 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in Carvana in the 3rd quarter valued at about $162,953,000. Finally, Renaissance Technologies LLC grew its position in Carvana by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company's stock worth $104,701,000 after purchasing an additional 88,500 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00. Following the transaction, the insider now directly owns 39,858,131 shares of the company's stock, valued at approximately $6,714,500,748.26. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction on Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the sale, the chief financial officer now directly owns 90,732 shares of the company's stock, valued at approximately $20,362,982.76. The trade was a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,971,908 shares of company stock worth $379,874,785 in the last 90 days. Company insiders own 17.12% of the company's stock.

Carvana Trading Down 0.8 %

Shares of NYSE:CVNA traded down $1.92 during mid-day trading on Tuesday, hitting $253.84. The stock had a trading volume of 2,202,256 shares, compared to its average volume of 4,526,716. Carvana Co. has a 12-month low of $40.21 and a 12-month high of $268.34. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a market cap of $52.70 billion, a PE ratio of 25,384.00 and a beta of 3.32. The company's 50 day moving average is $231.41 and its 200-day moving average is $171.52.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly 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 business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.47 billion. The business's quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, sell-side analysts predict that Carvana Co. will post 0.76 EPS for the current year.

Wall Street Analyst Weigh In

CVNA has been the subject of a number of recent analyst reports. Stephens began coverage on Carvana in a report on Thursday, September 12th. They issued an "overweight" rating and a $190.00 price objective for the company. Piper Sandler raised their price target on Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Bank of America raised their target price on shares of Carvana from $185.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Evercore ISI upped their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $222.71.

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.