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Carvana Co. (NYSE:CVNA) Chief Executive Officer Ernest Garcia III, through trusts, sold a total of $231,456 worth of Class A Common Stock on September 30, 2025. The sale comes as Carvana’s stock has delivered an impressive 125% return over the past year, with shares currently trading near $395, close to their 52-week high of $413.33. The sales were executed at prices ranging from $387.06 to $392.43.
The transactions involved the sale of shares held by two trusts: the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.
Specifically, 114 shares were sold from the Ernest Irrevocable 2004 Trust III at $387.06 per share and 101 shares were sold at prices ranging from $390.44 to $390.45. Additionally, 80 shares were sold at prices ranging from $391.62 to $392.43, and one share each was sold at $387.98 and $389.28.
From the Ernest C. Garcia III Multi-Generational Trust III, 114 shares were sold at $387.06 each, 100 shares at $390.54, 81 shares at $392.43, and one share each at $388.98 and $390.43.
Following these transactions, the Ernest Irrevocable 2004 Trust III holds 381,440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 481,440 shares. Garcia also directly holds 921,926 shares.
These sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024.
In other recent news, Carvana has seen several notable developments. Jefferies upgraded Carvana’s stock rating from Hold to Buy, citing the company’s strong position to benefit from a shift toward digital in the used car market. Alongside this upgrade, Jefferies increased its price target for Carvana to $475. JPMorgan also raised its price target for Carvana to $425, maintaining an Overweight rating, and noted the company’s solid fundamentals and performance in line with peers. Citizens JMP reiterated its Market Outperform rating with a $460 price target, highlighting favorable industry trends supporting Carvana’s business prospects. Additionally, DA Davidson increased its price target for Carvana from $260 to $380, maintaining a Neutral rating and acknowledging the company’s year-over-year growth in used vehicle units. Meanwhile, Sonic Automotive received a Buy rating from Benchmark, with an $80 price target, as Amazon expands its automotive marketplace presence. These developments reflect ongoing interest and varied perspectives from analysts regarding Carvana’s market position and future potential.
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