Carvana CEO Garcia sells $3.6 million in shares

Carvana Co. NASDAQ:CVNA Chief Executive Officer Ernest Garcia III, through trusts, sold a total of $3.6 million in Class A Common Stock on September 5, 2025. The sales occurred at prices ranging from $357.67 to $377.24, near the stock’s current trading price of $375. The company, now valued at $81.87 billion, has seen its shares surge 176.79% over the past year, according to InvestingPro data.

The transactions involved the sale of shares held by two trusts: the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.

Specifically, the Ernest Irrevocable 2004 Trust III sold 4,020 shares of Class A Common Stock. The Ernest C. Garcia III Multi-Generational Trust III sold 4,022 shares of Class A Common Stock.

Following these transactions, the Ernest Irrevocable 2004 Trust III holds 466,921 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 566,922 shares. Garcia also directly holds 921,926 shares.

The sales were executed under a Rule 10b5-1 trading plan adopted on December 13, 2024. For deeper insights into Carvana’s valuation and 17 additional key ProTips, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Carvana has garnered significant attention with several firms adjusting their stock price targets following the company’s second-quarter results. JPMorgan increased its price target for Carvana to $415 from $350, noting that the company’s adjusted EBITDA of $601 million surpassed both JPMorgan’s estimate of $530 million and the Bloomberg consensus of $551 million. Needham also raised its price target to $500 from $340, maintaining a Buy rating and highlighting Carvana as a prominent growth story in a fragmented industry. Additionally, DA Davidson adjusted its price target on Carvana to $380 from $260, citing the company’s year-over-year growth in used vehicle units. Citizens JMP reiterated its Market Outperform rating with a price target of $460, pointing to favorable industry trends. Meanwhile, Sonic Automotive received attention from Benchmark, which maintained a Buy rating and an $80 price target amid Amazon’s expansion in the automotive marketplace. These developments reflect analysts’ varied perspectives on Carvana’s performance and market potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.