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Ernest C. Garcia II, a ten percent owner of Carvana Co. (NASDAQ:NYSE:CVNA), sold a total of $67.9 million in Class A Common Stock on July 11 and July 14, 2025. The sales were executed at prices ranging from $342.7188 to $354.4023. The stock has shown remarkable strength, delivering a 145% return over the past year according to InvestingPro data.
The sales were executed in multiple transactions. On July 11, Garcia sold shares at prices ranging from $342.12 to $351.65. On July 14, shares were sold at prices ranging from $343.16 to $354.52.
On the same dates, Garcia converted Class A Units of Carvana Group, LLC into Class A Shares of Carvana Co. These conversions totaled 96,026 shares on July 11 and 98,528 shares on July 14. Additionally, corresponding cancellations of Class B Common Stock occurred with these conversions.
ECG II SPE, LLC, an entity wholly owned and controlled by Mr. Garcia, holds 8,000,000 shares of Class B Common Stock and 10,000,000 Class A Units.
The sales were executed under a Rule 10b5-1 trading plan adopted on December 13, 2024.
In other recent news, Carvana has seen a series of analyst upgrades and increased price targets following its impressive second-quarter performance. Citi raised its price target for Carvana to $415, citing strong sales tracking that exceeded both company guidance and consensus estimates, with 142,000 units sold. Stephens also increased its price target to $375, highlighting better-than-expected unit sales and increased EBITDA and EPS forecasts for 2025. Jefferies adjusted its price target to $325, noting accelerated retail unit growth based on web scrape data. Meanwhile, BofA Securities lifted its target to $375, maintaining a Buy rating and pointing to Carvana’s potential market share gains and eligibility for S&P 500 inclusion. Citizens JMP reiterated a Market Outperform rating with a $440 price target, emphasizing Carvana’s growth drivers and technological advancements in the automotive sector. These developments reflect a positive outlook from multiple analysts, focusing on Carvana’s sales growth and strategic positioning in the market.
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