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

Wellington Management Group LLP trimmed its holdings in shares of Carvana Co. (NYSE:CVNA) by 47.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 215,058 shares of the company’s stock after selling 191,275 shares during the quarter. Wellington Management Group LLP’s holdings in Carvana were worth $14,155,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Ascentis Independent Advisors bought a new position in shares of Carvana in the first quarter worth about $26,000. Farmers & Merchants Investments Inc. bought a new stake in Carvana during the 4th quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in Carvana by 152.6% in 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 during the period. Transamerica Financial Advisors LLC boosted its position in Carvana by 558.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock valued at $30,000 after buying an additional 385 shares during the period. Finally, Motiv8 Investments LLC bought a new position in Carvana in the 4th quarter worth about $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVNA has been the topic of a number of research reports. Citizens Jmp reduced their target price on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. UBS Group reissued a “buy” rating and issued a $83.00 price objective on shares of Carvana in a research note on Friday, July 31st. Royal Bank Of Canada set a $82.00 price objective on Carvana and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group decreased their target price on Carvana from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. One 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.14.

Insider Activity at Carvana

In other Carvana news, CFO Mark Jenkins sold 63,750 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $4,561,312.50. Following the sale, the chief financial officer owned 1,149,518 shares of the company’s stock, valued at approximately $82,248,012.90. This trade represents a 5.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of Carvana stock in a transaction on 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 transaction, the director owned 214,960 shares in the company, valued at $16,122,000. This represents a 6.33% 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. Insiders have sold 415,300 shares of company stock valued at $28,538,788 over the last 90 days. Insiders own 15.19% of the company’s stock.

Carvana Trading Up 0.1%

NYSE:CVNA opened at $74.65 on Tuesday. Carvana Co. has a one year low of $54.46 and a one year high of $97.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm has a market cap of $82.15 billion, a P/E ratio of 41.29, a P/E/G ratio of 2.15 and a beta of 3.49. The firm has a 50-day simple moving average of $69.11 and a 200-day simple moving average of $68.35.

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

Carvana Company Profile

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.