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CARVANA CO. [CVNA]

Reporting date: 10/08/2025

⚠️ Neutral Insider Sale Detected

📝 What Happened

  • Insider: GARCIA ERNEST C. III
  • Role: Chief Executive Officer; Director; 10% owner
  • Company: CARVANA CO. (CVNA)
  • Transaction Date(s): 2025-10-08
  • Table I (Non-Derivative Securities)
    • Sale : 10,000 shares
    • Average Sale Price: $365.60
    • Total Value: $3,656,049.08 (approx $3,656,000 using rounded VWAP)
    • Post-Transaction Direct Holdings: 920,696 shares
    • Indirect Holdings: 802,880 shares (held in related trusts)
    • 10b5-1 Plan Used? Yes

    📄 Summary

    GARCIA ERNEST C. III, Chief Executive Officer at CARVANA CO. (CVNA), sold 10,000 shares on October 8, 2025, at an average price of $365.60, realizing proceeds of about ~$3,656,049. After the transaction, he now holds 920,696 shares directly and 802,880 shares indirectly (via trusts). For retail traders, this is a neutral-to-slightly bearish event: prearranged plan sales, small versus total holdings.

    🔑 Interpretation

    • Type: Plan-based (prearranged Rule 10b5-1 trading plan) — not a clearly discretionary, ad-hoc sale
    • Disposition: Shares were sold (disposed) on the reported date via multiple executions (VWAP reported)
    • Size Context: 10,000 shares is modest relative to reported holdings — ~1.09% of his direct position (920,696) and ~0.58% of combined holdings (~1.72M). This looks like routine profit-taking, not a major divestiture.
    • ATH Metric: Using the reported VWAP (~$365.60) as a recent reference point (yesterday's price proxy), the sale occurred near recent multi‑year highs rather than historical lows; it may therefore be opportunistic relative to recent strength but not definitive evidence of selling at an absolute all-time high.
    • Outlier Check: Not unusually large compared with the holder's aggregate position and consistent with scheduled 10b5-1 activity — no obvious outlier trade size here.

    📊 Bullish or Bearish?

    Decide: Neutral

    Neutral. The filing shows planned 10b5-1 sales (all "S" codes) totaling a small percentage of the reporting owner’s holdings; the insider retains the vast majority of shares, so this appears to be routine profit-taking rather than a directional signal. Data completeness is good for these transactions, but cluster activity cannot be determined from this filing alone.

    ✅ Bottom Line (Retail Takeaway)

    This transaction looks like routine profit-taking executed under a pre-established 10b5-1 plan rather than a bearish signal. For retail traders, it’s largely noise — not a tradeable event on its own unless corroborated by additional large sales from other senior insiders or a change in company fundamentals.