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On June 6, Carvana Co. (NYSE:CVNA) CEO Ernest C. Garcia III executed a series of stock sales, totaling $647,927. These transactions involved the sale of Class A Common Stock at prices ranging from $346.38 to $350.86 per share. The sales come as Carvana trades near its 52-week high of $351.43, with the stock delivering an impressive 219% return over the past year. According to InvestingPro analysis, the company maintains a perfect Piotroski Score of 9, indicating strong financial health. The sales were conducted under a Rule 10b5-1 trading plan, which Garcia adopted in December 2024.
The shares were sold through two trusts: the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III. Garcia serves as the Investment Trustee and Co-Administrative Trustee for both trusts. Following these transactions, the trusts continue to hold a significant number of shares in Carvana.
In other recent news, Carvana has been the subject of several analyst updates following its noteworthy financial performance. RBC Capital Markets raised its price target for Carvana to $340, citing the company’s strong first-quarter performance and effective cost management strategies. Similarly, Morgan Stanley (NYSE:MS) increased its price target to $290, highlighting a record quarter and a robust long-term outlook for the company. Jefferies also adjusted its price target to $315, though they maintained a Hold rating, pointing to a 47% year-over-year growth in retail units through early May.
Meanwhile, DA Davidson reiterated a Neutral rating with a price target of $260, acknowledging Carvana’s impressive earnings and ambitious profitability targets. The firm noted that Carvana’s recent performance has set it apart from competitors. Additionally, Bank of America has identified Robinhood (NASDAQ:HOOD) as a prime candidate for inclusion in the S&P 500, which could lead to significant buying activity from passive funds. Analysts from BofA also mentioned Carvana as a potential candidate for the index addition. These developments indicate a period of significant interest and scrutiny from analysts and investors alike regarding Carvana’s strategic direction and market performance.
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