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Carvana Co. (NASDAQ:CVNA), the online used car retailer with a market capitalization of $85.8 billion, saw its Chief Executive Officer Ernest C. Garcia III indirectly sell a total of $939,347 worth of Class A Common Stock on September 25, 2025. The sale comes as the stock has delivered a remarkable 117.5% return over the past year. The sales were executed through two trusts, namely the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.
The transactions involved multiple sales at prices ranging from $356.32 to $367.54 per share. The sales totaled 2,500 shares. Currently trading at $392.66, near its 52-week high of $413.33, InvestingPro analysis suggests the stock is slightly overvalued, with a P/E ratio of 97.4.
Specifically, 1,200 shares were sold by the Ernest Irrevocable 2004 Trust III, and 1,300 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III. Following these transactions, the Ernest Irrevocable 2004 Trust III holds 400,140 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 500,140 shares. Garcia also directly holds 921,926 shares.
The sales were executed under a Rule 10b5-1 trading plan adopted on December 13, 2024.
In other recent news, Carvana has seen a series of analyst adjustments following its strong financial performance. The company reported impressive second-quarter results, with adjusted EBITDA reaching $601 million, surpassing both JPMorgan’s estimate of $530 million and the Bloomberg consensus of $551 million. This performance prompted JPMorgan to raise its price target for Carvana to $425, maintaining an Overweight rating, and previously from $350 to $415. DA Davidson also increased its price target from $260 to $380, citing Carvana’s year-over-year growth in used vehicle units but retained a Neutral rating. Meanwhile, Citizens JMP reiterated its Market Outperform rating with a price target of $460, highlighting favorable industry trends. In related automotive market news, Benchmark maintained a Buy rating for Sonic Automotive, with a price target of $80, amid Amazon’s expansion into the automotive marketplace. These recent developments reflect the positive sentiment among analysts regarding Carvana’s business prospects.
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