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Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Garcia sold shares of Carvana’s Class A Common Stock in transactions executed on May 29 and May 30, 2025. The sale comes as Carvana’s stock trades near its 52-week high of $327.75, having delivered an impressive 227% return over the past year. The total value of the shares sold amounted to approximately $5.4 million, with prices per share ranging from $316.74 to $324.00.
The sales were conducted through various trusts, including the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III, with Garcia acting as the Investment Trustee and Co-Administrative Trustee. These transactions were executed under a Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a specified time.
Following these transactions, Garcia holds 926,843 shares directly and maintains a substantial indirect ownership through the aforementioned trusts. The sales reflect a portion of Garcia’s holdings in Carvana, a company he has been closely associated with as a key executive and significant shareholder.
In other recent news, Carvana has been the focus of several analyst updates following its latest quarterly performance. Morgan Stanley (NYSE:MS) raised its price target for Carvana to $290, citing a record quarter and strong long-term guidance. Meanwhile, RBC Capital Markets also increased its target to $340, highlighting the company’s robust first-quarter performance and potential for sustained cash flow growth. Piper Sandler adjusted their target to $315, maintaining an Overweight rating due to Carvana’s impressive quarterly results and high-visibility growth. Additionally, Needham reaffirmed a $340 price target, emphasizing Carvana’s market potential and growth prospects.
DA Davidson maintained a Neutral rating with a $260 target, acknowledging the company’s strong performance this earnings season and its ambitious profitability targets. Analysts from various firms noted Carvana’s ability to leverage gross profit per unit and manage fixed costs effectively, which could enhance its competitive position. Despite some market volatility, Carvana’s recent achievements have led to increased confidence among analysts regarding its growth trajectory. The company’s expansion strategies and recent financial results have positioned it as a notable player in the competitive used car market.
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