Carvana CEO Garcia sells $3.7 million in shares

Carvana Co. (NYSE:CVNA), the online used car retailer whose stock has surged 176% over the past year and currently trades near $375, saw Chief Executive Officer Ernest C. Garcia III, through associated trusts, sell a total of $3.7 million in Class A Common Stock on September 8, 2025. The sales occurred at prices ranging from $365.38 to $377.36. According to InvestingPro analysis, the company maintains a GREAT Financial Health Score, with liquid assets exceeding short-term obligations.

The transactions involved multiple sales of Carvana Co. Class A Common Stock held indirectly through the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.

Specifically, the trusts disposed of shares in several tranches. These sales were executed at varying prices within the specified range, resulting in the total value of $3.7 million.

Following these transactions, the Ernest Irrevocable 2004 Trust III holds 461440 shares and the Ernest C. Garcia III Multi-Generational Trust III holds 561440 shares. Garcia also directly holds 921926 shares.

These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Garcia on December 13, 2024.

In other recent news, Carvana’s financial performance has garnered attention, leading to several adjustments in stock price targets by analysts. JPMorgan raised its price target for Carvana to $415 from $350 after the company’s second-quarter results exceeded expectations, with an adjusted EBITDA of $601 million, surpassing both JPMorgan’s estimate and Bloomberg’s consensus. Similarly, Needham increased its price target to $500 from $340, maintaining a Buy rating and praising Carvana’s business model as a standout in the industry. DA Davidson also adjusted its target, raising it to $380 from $260 while keeping a Neutral rating, noting Carvana’s year-over-year growth in used vehicle units.

In addition, Citizens JMP reiterated its Market Outperform rating with a $460 price target, pointing to favorable industry trends that support Carvana’s business prospects. Meanwhile, Sonic Automotive received a maintained Buy rating from Benchmark, with a price target of $80, amid Amazon’s expansion into the automotive marketplace. Amazon’s collaboration with Hyundai allows customers to purchase new vehicles through its platform, acting as a listing agent in numerous markets. These developments highlight the dynamic shifts and strategic moves within the automotive retail sector.

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