Carvana CEO Garcia sells $3.7m in class A common stock

Carvana Co. (NYSE:CVNA) Chief Executive Officer Ernest C. Garcia III sold a total of $3,720,701 in Class A Common Stock on October 6, 2025. The sales occurred at prices ranging from $367.23 to $379.19, near the stock’s 52-week high of $413.33. According to InvestingPro data, CVNA shares have delivered an impressive 89% return over the past year.

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, a total of 7,410 shares were sold.

These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted by Garcia on December 13, 2024. Following these transactions, the Ernest Irrevocable 2004 Trust III holds 361,440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 461,440 shares. Garcia also directly holds 920,696 shares.

In other recent news, Carvana has experienced several significant developments. Moody’s Ratings has upgraded Carvana’s corporate family rating to B2 from B3, citing improvements in the company’s operating performance and voluntary debt reduction. Jefferies has also upgraded Carvana’s stock rating from Hold to Buy, highlighting the company’s advantageous position in the emerging digital used car market. Additionally, JPMorgan has raised its price target for Carvana to $425, maintaining an Overweight rating, while noting solid fundamentals and strong second-quarter results. Meanwhile, Citizens JMP has reiterated its Market Outperform rating with a $460 price target, supported by favorable industry trends. These upgrades and positive outlooks reflect growing confidence in Carvana’s business strategy and market position.

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