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Carvana Co. (NYSE:CVNA), the online used car retailer with a market capitalization of $74.5 billion, saw Chief Executive Officer Ernest C. Garcia III sell $3.49 million in Class A Common Stock through trusts on July 17, 2025. The sales occurred at prices ranging from $345.20 to $358.19, near the stock’s current trading price of $347.52. The company has demonstrated remarkable performance, with shares surging over 70% year-to-date.
According to a Form 4 filing with the Securities and Exchange Commission, Garcia, acting as the Investment Trustee and Co-Administrative Trustee, executed the sales through the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.
Specifically, the Ernest Irrevocable 2004 Trust III sold a total of 4482 shares. The Ernest C. Garcia III Multi-Generational Trust III sold a total of 4482 shares.
Following these transactions, the Ernest Irrevocable 2004 Trust III holds 641440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 741440 shares. Garcia also directly holds 924384 shares.
The reported 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 updates reflecting its strong sales performance and growth potential. Citi raised its price target for Carvana to $415, citing a 40% year-over-year increase in retail unit sales for the second quarter, surpassing both consensus estimates and the company’s own guidance. Stephens also increased its price target to $375, highlighting a projected 45% growth in unit sales and noting material price increases and a shift to younger inventory. Meanwhile, Citizens JMP reiterated a Market Outperform rating with a $440 price target, emphasizing Carvana’s company-specific growth drivers and increasing scale. Jefferies raised its price target to $325, based on web scrape data indicating accelerated retail unit growth. BofA Securities also lifted its price target to $375, maintaining a Buy rating and underscoring Carvana’s potential market share gains and eligibility for inclusion in the S&P 500 index. These developments suggest a positive outlook from analysts regarding Carvana’s performance and future growth prospects.
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