Carvana COO Benjamin Huston sells $10.4m in stock

Carvana Co. (NYSE:CVNA), the online used car retailer with a market capitalization of $48.8 billion, saw its Chief Operating Officer Benjamin Huston recently sell a significant portion of his holdings. According to a recent filing, Huston disposed of Class A Common Stock valued at approximately $10.4 million. The transactions took place on March 31, 2025, with shares sold at prices ranging from $194.19 to $213.36, amid the stock’s impressive 173% gain over the past year. InvestingPro analysis shows the stock trading near its Fair Value, with 15+ additional insights available to subscribers.

Following these sales, Huston retains ownership of 123,803 shares of Carvana’s Class A Common Stock. Additionally, on April 1, 2025, 4,313 shares were withheld for taxes upon vesting of restricted stock units, valued at $916,900 based on a price of $212.59 per share.

Furthermore, on April 2, 2025, Huston converted 50,000 Class B Units into Class A Common Stock, although this transaction was valued at zero dollars due to its nature as a unit conversion.

In other recent news, Carvana Co. has seen a series of significant developments that investors may find noteworthy. The company reported a substantial improvement in its financial performance, with sales reaching $13.7 billion in 2024, up from $10.8 billion in 2023. Carvana’s EBITDA margins also grew to 10.6% in fiscal 2024, reflecting enhanced profitability. Additionally, Moody’s Ratings upgraded Carvana’s corporate family rating to B3 from Caa1, citing improved operating performance and voluntary debt reduction. This upgrade was accompanied by a positive outlook, suggesting the potential for further improvement in credit metrics.

Jefferies recently adjusted its price target for Carvana shares to $230 from $265, maintaining a Hold rating due to potential macroeconomic challenges. Despite these concerns, Jefferies’ analysis indicates that Carvana’s Retail Units are tracking 10% above consensus for the first quarter, potentially boosting gross profit per unit and EBITDA. Meanwhile, Piper Sandler upgraded Carvana’s stock rating to Overweight, with a maintained price target of $225, highlighting the company’s potential to disrupt the used car market and achieve rapid growth in revenue and earnings.

S&P Global Ratings also upgraded Carvana’s credit rating to ’B’ from ’B-’, acknowledging ongoing improvements in performance and stronger credit metrics. This positive outlook suggests the possibility of another upgrade if Carvana continues to improve its operating performance while maintaining leverage below 5x. These recent developments reflect Carvana’s strengthened financial position and potential for continued growth in the coming years.

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