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Carvana Co (NYSE:CVNA). NASDAQ:CVNA Chief Executive Officer Ernest C. Garcia III, through trusts, sold a total of $3.45 million in Class A Common Stock on July 8, 2025. The sales were executed at prices ranging from $343.43 to $359.73. The transaction comes as Carvana, now valued at $74.56 billion, has delivered an impressive 163.84% return over the past year, with the stock currently trading near $345.55.
The transactions involved the sale of shares held by the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III. According to InvestingPro analysis, Carvana maintains a "GREAT" financial health score, with strong liquidity metrics and moderate debt levels.
Specifically, several sales were executed at different price points: 96 shares were sold at $343.43, another 96 shares at $343.46, 1,429 shares were sold at an average price of $345.34 (ranging from $344.81 to $345.79), 1,040 shares at an average of $346.29 (ranging from $345.84 to $346.80), 540 shares at an average of $347.31 (ranging from $346.99 to $347.82), 298 shares at an average of $348.53 (ranging from $348.26 to $348.99), 444 shares at an average of $349.95 (ranging from $349.48 to $350.44), 104 shares at an average of $351.04 (ranging from $350.86 to $351.30), 103 shares at an average of $351.57 (ranging from $351.30 to $351.59), 51 shares at an average of $352.01 (ranging from $352.00 to $352.50), 87 shares at an average of $353.33 (ranging from $353.19 to $354.18), 88 shares at $354.18, 135 shares at an average of $354.69 (ranging from $354.20 to $355.15), 198 shares at an average of $356.35 (ranging from $355.90 to $356.81), 306 shares at an average of $357.45 (ranging from $357.04 to $358.01), 100 shares at $358.07, 100 shares at $359.01 and 124 shares at an average of $359.73 (ranging from $359.36 to $360.03).
Following these transactions, the Ernest Irrevocable 2004 Trust III directly holds 676,488 shares of Class A Common Stock, and the Ernest C. Garcia III Multi-Generational Trust III directly holds 776,488 shares. Mr. Garcia also directly holds 924,384 shares. With Carvana’s next earnings report scheduled for July 30, 2025, investors can access comprehensive analysis and 19 additional key insights through InvestingPro’s detailed research reports.
The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Garcia on December 13, 2024. Based on InvestingPro’s Fair Value analysis, Carvana is currently trading near its fair value, with analysts maintaining price targets ranging from $230 to $415.
In other recent news, Carvana’s second-quarter performance has attracted positive attention from multiple analysts. Citi has increased its price target for Carvana to $415, highlighting stronger-than-expected sales and a 40% year-over-year increase in retail unit sales. Stephens also raised its price target to $375, noting that Carvana’s unit sales likely surpassed both its own and Wall Street’s estimates, with a significant increase in average list and sales prices. Meanwhile, Citizens JMP reiterated a Market Outperform rating with a $440 price target, citing Carvana’s potential to outgrow the broader automotive market due to its technological advancements and increasing scale.
Jefferies raised its target to $325, based on web scrape data showing accelerated retail unit growth. BofA Securities followed suit, lifting its price target to $375 and maintaining a Buy rating, attributing the increase to Carvana’s potential market share gains and a possible shift from new to used cars. Each of these firms has expressed confidence in Carvana’s future growth prospects, with various analyses supporting their revised projections. These developments reflect a generally optimistic outlook on Carvana’s ability to navigate current market conditions and capitalize on emerging trends.
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