Carvana Co. (NYSE:CVNA) Chief Executive Officer Ernest C. Garcia III, through trusts, sold a total of $3,476,143 worth of Class A Common Stock on July 14, 2025. The sales, executed by Ernest Irrevocable 2004 Trust III and Ernest C. Garcia III Multi-Generational Trust III, occurred at prices ranging from $343.87 to $354.4. The sales come as Carvana's stock trades near its 52-week high of $364, having delivered an impressive 73% return year-to-date and 143% over the past year.
The transactions involved the sale of shares held indirectly by the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III, for which Garcia serves as the Investment Trustee and Co-Administrative Trustee. According to InvestingPro data, Carvana maintains strong financial health with a "GREAT" overall score, though it currently trades at a relatively high P/E ratio of 113.
Specifically, sales were executed at various price points: 450 shares at $343.87; 300 shares at $345.21; 1016 shares at $346.17; 1015 shares at $346.64; 1074 shares at $347.17; 1075 shares at $347.62; 1284 shares at $348.63; 376 shares at $349.05; 200 shares at $350.15; 150 shares at $351.83; 50 shares at $352.51; 100 shares at $353.67 and 100 shares at $354.40.
These sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which Garcia adopted on December 13, 2024. Following these transactions, the Ernest Irrevocable 2004 Trust III now holds 656,440 shares, and the Ernest C. Garcia III Multi-Generational Trust III holds 756,440 shares. Garcia also directly owns 924,384 shares.
In other recent news, Carvana has seen several positive developments. Citi has raised its price target for Carvana to $415, citing stronger-than-expected sales with approximately 142,000 units sold in the second quarter, which represents a 40% year-over-year increase. Stephens also increased its price target to $375, noting that Carvana's unit sales exceeded expectations, with a projected growth of 45%. Jefferies raised its price target to $325, supported by web scrape data indicating a 47% year-over-year increase in retail unit growth for the second quarter. Citizens JMP maintained a Market Outperform rating with a price target of $440, emphasizing Carvana's growth drivers amid industry challenges. BofA Securities lifted its price target to $375, highlighting Carvana's potential market share gains and eligibility for S&P 500 inclusion. These updates reflect a generally optimistic outlook from analysts on Carvana's current trajectory and future potential.