Carvana CEO Garcia sells $3.5m in class a common stock

Carvana Co (NYSE:CVNA). NASDAQ:CVNA Chief Executive Officer Ernest C. Garcia III, through associated trusts, sold a total of $3,533,680 worth of Class A Common Stock on July 16, 2025. The sales occurred at prices ranging from $348.84 to $357.92, near the stock’s 52-week high of $364. According to InvestingPro data, CVNA has demonstrated remarkable strength with a 168% return over the past year, though current analysis suggests the stock is trading above its Fair Value.

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. Specifically, the trusts disposed of shares in multiple transactions. The company, which maintains an "GREAT" Financial Health score according to InvestingPro, has seen its market capitalization grow to $74.5 billion.

These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024. Following these transactions, the Ernest Irrevocable 2004 Trust III holds 6,46440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 746440 shares. Garcia also directly holds 924384 shares. For deeper insights into Carvana’s valuation, insider trading patterns, and 18 additional key ProTips, visit InvestingPro to access the comprehensive Pro Research Report.

In other recent news, Carvana has seen a series of positive developments concerning its financial performance and market outlook. Citi has raised its price target for Carvana to $415, citing stronger-than-expected sales data, with approximately 142,000 units sold in the second quarter, a 40% increase year-over-year. Stephens also increased its price target to $375, noting a 45% projected growth in unit sales for the second quarter, which exceeded both its own and Wall Street’s estimates. Meanwhile, Citizens JMP reiterated a Market Outperform rating with a price target of $440, highlighting Carvana’s potential to outperform industry growth through technological advancements.

Jefferies raised its price target to $325 after web scrape data showed accelerated retail unit growth, projecting a 47% year-over-year increase for the second quarter. BofA Securities also lifted its price target to $375, maintaining a Buy rating and emphasizing Carvana’s potential market share gains amid a shift from new to used cars. Analysts from BofA noted that Carvana is nearing a 5% market share in its largest market, Atlanta, and suggested potential benefits from a car loan interest deduction. These updates reflect growing confidence among analysts in Carvana’s ability to sustain its growth trajectory.

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