Carvana CEO Garcia sells $3.6m in shares

Carvana (NASDAQ:CVNA) Chief Executive Officer Ernest Garcia III indirectly sold a total of $3.6 million in Class A Common Stock on October 8, 2025. The sales occurred at prices ranging from $362.58 to $370.0, amid a period of significant growth for the company, which has seen its revenue increase by 39.5% over the last twelve months. According to InvestingPro data, Carvana’s stock has delivered an impressive 71.9% return over the past year, despite recent volatility.

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. Specifically, 459 shares were sold by the Ernest Irrevocable 2004 Trust III at $362.58, and 459 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $362.58. Another 703 shares were sold by the Ernest Irrevocable 2004 Trust III at $363.26, and 702 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $363.73. Additionally, 1094 shares were sold by the Ernest Irrevocable 2004 Trust III at $364.30, and 1094 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $364.30. Furthermore, 671 shares were sold by the Ernest Irrevocable 2004 Trust III at $365.36, and 671 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $365.36. 519 shares were sold by the Ernest Irrevocable 2004 Trust III at $366.42, and 519 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $366.42. 670 shares were sold by the Ernest Irrevocable 2004 Trust III at $367.45, and 670 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $367.45. 666 shares were sold by the Ernest Irrevocable 2004 Trust III at $368.50, and 666 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $368.50. 163 shares were sold by the Ernest Irrevocable 2004 Trust III at $369.32, and 164 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $369.59. Finally, 55 shares were sold by the Ernest Irrevocable 2004 Trust III at $370.00, and 55 shares were sold by the Ernest C. Garcia III Multi-Generational Trust III at $370.00.

Following these transactions, the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III indirectly hold 351440 and 451440 shares respectively. Mr. Garcia also directly holds 920696 shares.

The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024. With the company’s next earnings report due on October 29, 2025, investors seeking deeper insights can access comprehensive analysis and Fair Value estimates through InvestingPro’s detailed research reports, which cover over 1,400 US stocks including Carvana .

In other recent news, Carvana has been the subject of multiple analyst updates and credit evaluations. Moody’s has upgraded Carvana’s corporate family rating to B2 from B3, highlighting improvements in the company’s operating performance and voluntary debt reduction, which have positively impacted its credit metrics. Additionally, Jefferies has upgraded Carvana’s stock rating from Hold to Buy, citing the company’s advantageous position in the growing digital used car market and raising the price target to $475.00. Meanwhile, BTIG has reiterated its Buy rating on Carvana, maintaining a $450.00 price target despite concerns over the company’s financing activities and credit exposure.

JPMorgan has also increased its price target for Carvana to $425.00, maintaining an Overweight rating based on solid fundamentals and recent strong second-quarter results. Citizens JMP has reiterated a Market Outperform rating with a $460.00 price target, supported by favorable industry trends that bolster the positive outlook for Carvana’s business. These developments reflect a range of perspectives from analysts and credit agencies, showcasing a generally optimistic view of Carvana’s financial health and market positioning.

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