Carvana CEO Garcia sells $3.7m in shares

Carvana Co. (NYSE:CVNA) Chief Executive Officer Ernest Garcia III indirectly sold a total of $3.74 million in Class A Common Stock on August 28, 2025. The sales occurred at prices ranging from $370.16 to $377.35, with the current stock trading at $366.39. The company, now valued at approximately $80 billion, has seen its shares surge over 143% in the past year, according to InvestingPro data.

The transactions involved sales from two trusts where Garcia serves as the Investment Trustee and Co-Administrative Trustee: the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III.

Specifically, the Ernest Irrevocable 2004 Trust III sold 232 shares at $370.16, 296 shares at $371.48, 666 shares at $372.41, 742 shares at $373.19, 859 shares at $374.51, 1184 shares at $375.41, 994 shares at $376.27 and 27 shares at $377.25. Following these transactions, the Ernest Irrevocable 2004 Trust III directly holds 491,440 shares.

The Ernest C. Garcia III Multi-Generational Trust III sold 231 shares at $370.41, 296 shares at $371.48, 666 shares at $372.41, 743 shares at $373.82, 858 shares at $374.96, 1185 shares at $375.93, 993 shares at $376.67 and 28 shares at $377.35. Following these transactions, the Ernest C. Garcia III Multi-Generational Trust III directly holds 591,440 shares.

In addition to the shares held by the trusts, Garcia directly owns 923,155 shares of Carvana Co.

These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 13, 2024. InvestingPro’s analysis shows Carvana maintains a "GREAT" financial health score of 3.03, with liquid assets exceeding short-term obligations. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access Carvana’s detailed Pro Research Report, one of 1,400+ company reports available on InvestingPro.

In other recent news, Carvana has been the focus of several analyst updates following its second-quarter results. JPMorgan raised its price target for Carvana to $415 from $350, noting that the company’s results were well ahead of expectations, with an adjusted EBITDA of $601 million, surpassing both their own and Bloomberg’s estimates. Needham also increased its price target for Carvana to $500 from $340, maintaining a Buy rating and highlighting the company’s unique model and potential for market share expansion. Additionally, DA Davidson raised its price target for Carvana to $380 from $260, while keeping a Neutral rating, citing the company’s year-over-year growth in used vehicle units.

Citizens JMP reiterated its Market Outperform rating on Carvana, with a price target of $460, supported by favorable industry trends. Meanwhile, Sonic Automotive received a Buy rating from Benchmark, with a price target of $80, amid Amazon’s expansion into the automotive marketplace. Amazon’s new initiative, Amazon Autos, partners with Hyundai to facilitate vehicle purchases through its platform, impacting the automotive retail landscape. These developments reflect ongoing strategic moves and analyst perspectives in the automotive and online retail sectors.

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