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

Wellington Management Group LLP increased its stake in Carvana Co. (NYSE:CVNA - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,215 shares of the company's stock after buying an additional 1,430 shares during the period. Wellington Management Group LLP's holdings in Carvana were worth $7,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after buying an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after buying an additional 129,246 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after buying an additional 75,250 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its holdings in shares of Carvana by 29.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after buying an additional 278,760 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.

Insider Buying and Selling

In related news, CEO Ernest C. Garcia III sold 3,196 shares of Carvana stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $344.65, for a total transaction of $1,101,501.40. Following the completion of the transaction, the chief executive officer now directly owns 780,000 shares of the company's stock, valued at approximately $268,827,000. The trade was a 0.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $339.58, for a total transaction of $16,979,000.00. Following the transaction, the insider now directly owns 37,242,317 shares of the company's stock, valued at approximately $12,646,746,006.86. This represents a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,016,196 shares of company stock valued at $284,029,665. Company insiders own 17.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CVNA shares. Wedbush upgraded shares of Carvana to a "hold" rating in a report on Thursday, May 8th. Stephens restated an "overweight" rating and issued a $300.00 target price on shares of Carvana in a report on Monday, March 3rd. Morgan Stanley raised their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and issued a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Finally, DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $275.65.

Carvana Price Performance

Shares of NYSE:CVNA traded down $1.62 on Friday, reaching $341.68. The company's stock had a trading volume of 2,961,715 shares, compared to its average volume of 3,951,476. Carvana Co. has a 52-week low of $100.05 and a 52-week high of $351.43. The company has a market cap of $73.17 billion, a P/E ratio of 217.63 and a beta of 3.61. The company has a 50-day simple moving average of $258.50 and a 200 day simple moving average of $238.52. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same period last year, the company posted $0.23 EPS. The business's revenue was up 38.3% on a year-over-year basis. As a group, equities research analysts anticipate that Carvana Co. will post 2.85 EPS for the current fiscal year.

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.