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Ernest C. Garcia II, a ten percent owner of Carvana Co. (NYSE:CVNA), sold a total of 91,332 shares of Class A Common Stock on July 25 and July 28, 2025, for approximately $33.5 million. The sale comes as Carvana’s stock has delivered an impressive 163% return over the past year, with the company now commanding a market capitalization of $72.27 billion. According to InvestingPro analysis, the stock is currently trading near its Fair Value. The sales were executed in multiple transactions with prices ranging from $332.9508 to $339.3524 on July 25, and from $333.7178 to $338.4461 on July 28.
The sales were executed pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2024, by Ernest C. Garcia II and Elizabeth Joanne Garcia.
On both July 25 and July 28, Garcia also converted 50,000 Class A Common Units into shares of Class A Common Stock. The company currently trades at a P/E ratio of 106, reflecting investors’ high growth expectations.
In other recent news, Carvana Co. announced plans to enhance its operations by integrating Inspection and Reconditioning Center capabilities at its ADESA Seattle auction site. This move is expected to increase Carvana’s national reconditioning capacity, benefiting both retail and wholesale customers in the Pacific Northwest. Additionally, Citi has raised its price target for Carvana to $415, citing stronger-than-expected sales data with retail unit sales reaching approximately 142,000 in the second quarter, marking a 40% year-over-year increase. JPMorgan also adjusted its price target for Carvana, increasing it to $350 while maintaining an Overweight rating, with EBITDA estimates for Q2 2025 at $530 million. Stephens followed suit, raising its price target to $375 due to better-than-expected unit sales, now projecting a 45% growth. Furthermore, research firm BTIG noted that Carvana’s vehicle discounting has returned to pre-tariff scare levels, maintaining a Buy rating with a $395 price target. These developments highlight recent analyst adjustments and operational expansions for Carvana.
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