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Carvana Co. (NYSE:CVNA) Chief Executive Officer Ernest C. Garcia III sold a total of $3,533,680 in Class A Common Stock on July 16, 2025. The sales were executed at prices ranging from $348.84 to $357.92. The transaction comes as Carvana’s stock has delivered an impressive 168% return over the past year, with the company now commanding a market capitalization of $74.5 billion. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
The transactions involved sales from two trusts associated with Garcia: the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.
Specifically, 4,395 shares were sold indirectly through the Ernest Irrevocable 2004 Trust III, and another 4,392 shares were sold indirectly through the Ernest C. Garcia III Multi-Generational Trust III.
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 646,440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 746,440 shares. Garcia also directly holds 924,384 shares.
In other recent news, Carvana has reported a notable increase in its second-quarter unit sales, exceeding expectations. Citi raised its price target for Carvana to $415, citing a 40% year-over-year increase in sales, which surpassed both company guidance and consensus estimates. Stephens also adjusted its price target to $375, highlighting a 45% growth in unit sales and an increase in its EBITDA and EPS forecasts. Jefferies increased its target to $325 based on web scrape data showing accelerated retail unit growth, while BofA Securities raised its target to $375, citing potential benefits from a shift from new to used cars.
Additionally, Citizens JMP maintained a Market Outperform rating with a price target of $440, expressing confidence in Carvana’s growth potential despite broader industry challenges. The firm noted Carvana’s increasing scale and technological advancements as key growth drivers. Analysts have also observed that Carvana’s inventory rose by 36% year-over-year in the second quarter, indicating improved vehicle selection and demand.
These developments reflect a positive outlook for Carvana, with analysts from various firms adjusting their projections based on the company’s recent performance. The adjustments in price targets and ratings by Citi, Stephens, Jefferies, BofA Securities, and Citizens JMP underscore the company’s strong sales momentum and growth prospects.
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