Carvana CEO Garcia sells $3.48 million in shares

Carvana Co. (NYSE:CVNA) Chief Executive Officer Ernest C. Garcia III indirectly sold a total of $3.48 million in Class A Common Stock on August 13, 2025. The sales occurred at prices ranging from $343.83 to $351.24, near the stock’s current trading price of $349.87. The insider sale comes as Carvana , now valued at over $76 billion, has delivered an impressive 138.84% return over the past year. According to InvestingPro analysis, the company maintains a GOOD financial health score, though it’s currently trading at relatively high valuation multiples.

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, for which Garcia serves as the Investment Trustee and Co-Administrative Trustee.

Specifically, a series of sales were executed. 50 shares were sold at $343.83 each by the Ernest Irrevocable 2004 Trust III, and 50 shares sold at $343.83 each by the Ernest C. Garcia III Multi-Generational Trust III. Additionally, 400 shares were sold at an average price of $345.55 (ranging from $344.91 to $345.90) by the Ernest Irrevocable 2004 Trust III, and 400 shares were sold at an average price of $345.55 (ranging from $344.91 to $345.90) by the Ernest C. Garcia III Multi-Generational Trust III. Furthermore, 800 shares were sold at an average price of $346.49 (ranging from $345.95 to $346.95) by the Ernest Irrevocable 2004 Trust III, and 800 shares were sold at an average price of $346.49 (ranging from $345.95 to $346.95) by the Ernest C. Garcia III Multi-Generational Trust III. Another set of transactions involved 850 shares sold at an average price of $347.53 (ranging from $346.99 to $347.99) by the Ernest Irrevocable 2004 Trust III, and 850 shares sold at an average price of $347.53 (ranging from $346.99 to $347.99) by the Ernest C. Garcia III Multi-Generational Trust III. Additionally, 800 shares were sold at an average price of $348.70 (ranging from $348.07 to $349.06) by the Ernest Irrevocable 2004 Trust III, and 800 shares were sold at an average price of $348.70 (ranging from $348.07 to $349.06) by the Ernest C. Garcia III Multi-Generational Trust III. Furthermore, 1016 shares were sold at an average price of $349.65 (ranging from $349.11 to $350.07) by the Ernest Irrevocable 2004 Trust III, and 1016 shares were sold at an average price of $349.65 (ranging from $349.11 to $350.07) by the Ernest C. Garcia III Multi-Generational Trust III. Another set of transactions involved 1034 shares sold at an average price of $350.67 (ranging from $350.19 to $351.09) by the Ernest Irrevocable 2004 Trust III, and 1034 shares sold at an average price of $350.67 (ranging from $350.19 to $351.09) by the Ernest C. Garcia III Multi-Generational Trust III. Finally, 50 shares were sold at $351.24 each by the Ernest Irrevocable 2004 Trust III, and 50 shares sold at $351.24 each by the Ernest C. Garcia III Multi-Generational Trust III.

Following these transactions, the Ernest Irrevocable 2004 Trust III directly holds 546440 shares and the Ernest C. Garcia III Multi-Generational Trust III directly holds 646440 shares. Mr. Garcia also directly holds 923155 shares. With Carvana’s revenue growing at 39.48% and analysts expecting continued growth, InvestingPro subscribers can access 15+ additional exclusive insights about the company’s performance and valuation metrics.

These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024. Looking ahead, Carvana is scheduled to report its next earnings on October 30, 2025, with analysts maintaining optimistic forecasts. For detailed analysis and comprehensive valuation metrics, investors can access Carvana’s full Pro Research Report, available exclusively on InvestingPro.

In other recent news, Carvana has reported strong financial performance for the second quarter of 2025, which has led several analyst firms to raise their stock price targets. Notably, JPMorgan increased its target to $415, highlighting that Carvana’s adjusted EBITDA of $601 million surpassed both its own estimate and the Bloomberg consensus. Similarly, Needham raised its price target to $500, emphasizing Carvana’s profitable growth and its unique business model in a fragmented industry. BTIG also raised its target to $450, citing the company’s strong retail gross profit per unit and operational efficiency. JMP Securities increased its target to $460, noting that Carvana’s revenue and EBITDA exceeded consensus expectations by 6% and 9%, respectively. DA Davidson, while maintaining a Neutral rating, raised its price target to $380, acknowledging Carvana’s year-over-year growth in used vehicle units. These developments reflect the positive reception of Carvana’s recent financial results across various analyst firms.

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