Sequoia Financial Advisors LLC Cuts Position in Carvana Co. $CVNA

Key Points

• Sequoia Financial Advisors LLC reduced its stake in Carvana Co. by 25.7% during the second quarter, selling 1,016 shares and ending with 2,933 shares valued at $988,000.
• Carvana reported a quarterly earnings of $1.28 EPS, exceeding the consensus estimate of $1.09, along with a year-over-year revenue increase of 41.9%.
• Insider Paul W. Breaux sold 15,000 shares for approximately $5.97 million, marking a 15.51% decrease in his ownership of Carvana stock.

Sequoia Financial Advisors LLC lowered its stake in shares of Carvana Co. (NYSE:CVNA - Free Report) by 25.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,933 shares of the company's stock after selling 1,016 shares during the period. Sequoia Financial Advisors LLC's holdings in Carvana were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVNA. J.Safra Asset Management Corp boosted its position in Carvana by 140.8% during the first quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock valued at $709,000 after buying an additional 1,982 shares during the period. Berkshire Capital Holdings Inc. increased its stake in shares of Carvana by 632,200.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company's stock valued at $13,220,000 after purchasing an additional 63,220 shares in the last quarter. Praxis Investment Management Inc. increased its position in shares of Carvana by 56.0% during the first quarter. Praxis Investment Management Inc. now owns 4,400 shares of the company's stock valued at $920,000 after acquiring an additional 1,580 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Carvana by 1,791.2% during the first quarter. Hexagon Capital Partners LLC now owns 2,591 shares of the company's stock valued at $542,000 after acquiring an additional 2,454 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in Carvana in the first quarter valued at about $359,000. Institutional investors own 56.71% of the company's stock.

Carvana Trading Down 3.3%

NYSE CVNA opened at $333.28 on Friday. The stock has a market capitalization of $71.72 billion, a P/E ratio of 83.53, a PEG ratio of 1.12 and a beta of 3.55. Carvana Co. has a 12 month low of $148.25 and a 12 month high of $413.33. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The firm's 50-day moving average is $364.10 and its two-hundred day moving average is $319.28.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The business's quarterly revenue was up 41.9% on a year-over-year basis. On average, sell-side analysts anticipate that Carvana Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVNA. Gordon Haskett started coverage on Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC raised their price target on shares of Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. DA Davidson raised their target price on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and a consensus price target of $407.44.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $398.00, for a total value of $5,970,000.00. Following the completion of the sale, the insider owned 81,716 shares of the company's stock, valued at approximately $32,522,968. This trade represents a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen R. Palmer sold 1,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $390.14, for a total value of $390,140.00. Following the completion of the transaction, the vice president owned 43,513 shares of the company's stock, valued at approximately $16,976,161.82. This represents a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,678,292 shares of company stock valued at $608,812,907. 17.12% of the stock is owned by insiders.

About Carvana

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.

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