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Carvana Co (NYSE:CVNA). NASDAQ:CVNA Chief Executive Officer Ernest C. Garcia III, through trusts, sold a total of $3.3 million in Class A Common Stock on July 24, 2025. The sales occurred at prices ranging from $328.26 to $341.99, near the stock’s current trading price of $336.33. The online used car retailer, now valued at $72.5 billion, has seen its shares surge over 153% in the past year. According to InvestingPro analysis, the stock is currently trading near its Fair Value.
The transactions involved the sale of shares held indirectly through the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.
Specifically, a total of 4,886 shares were sold. These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Garcia on December 13, 2024.
Following the transactions, the Ernest Irrevocable 2004 Trust III holds 616,440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 716,440 shares. Garcia also directly holds 924,384 shares of Carvana Co. NASDAQ:CVNA.
In other recent news, Carvana Co. announced plans to expand its Inspection and Reconditioning Center capabilities at the ADESA Seattle auction site in Auburn, Washington. This development aims to boost its national reconditioning capacity and enhance services for retail and wholesale customers in the Pacific Northwest. Additionally, several investment banks have adjusted their price targets for Carvana, reflecting positive sales data and market conditions. Citi raised its price target to $415, citing stronger-than-expected sales with approximately 142,000 units sold in the second quarter, surpassing consensus estimates. Stephens also increased its price target to $375, projecting a 45% growth in unit sales, exceeding both its previous estimate and Wall Street’s expectations. JPMorgan adjusted its price target to $350, maintaining an Overweight rating and forecasting significant EBITDA growth for Q2 and Q3 2025. Research firm BTIG noted that Carvana’s vehicle discounting has returned to normal levels following fluctuations earlier in the year, maintaining a Buy rating. These developments highlight Carvana’s ongoing efforts to expand its operations and the positive outlook from analysts regarding its sales performance.
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