TEMPE, Ariz.—Paul Breaux, Vice President, General Counsel, Secretary, and Chief Compliance Officer at Carvana Co. (NYSE:CVNA), recently sold shares worth approximately $10.8 million, according to a regulatory filing. The transactions, executed under a Rule 10b5-1 trading plan, took place on February 10 and 11, 2025. The sale comes as Carvana trades near its 52-week high of $272.96, with the stock showing remarkable strength, up over 380% in the past year according to InvestingPro data.
On February 10, Breaux sold 1,362 shares of Carvana’s Class A common stock at an average price of $270.08 per share. The following day, he sold an additional 38,638 shares at prices ranging from $270.34 to $271.15 per share. Based on InvestingPro’s analysis, Carvana currently appears overvalued at these levels. Investors can access over 20 additional key insights and detailed valuation metrics through InvestingPro’s comprehensive research report.
In addition to these sales, Breaux exercised stock options to acquire 40,000 shares at a price of $10.07 per share, underlining his ongoing engagement with the company. The transactions reflect Breaux’s strategic management of his holdings in Carvana, a leading online platform for buying and selling used cars. With the company’s next earnings report due in 7 days, investors should note that Carvana has maintained profitability over the last twelve months, though InvestingPro analysts expect net income to decrease this year.
In other recent news, Carvana has been the subject of several analyst updates. JMP Securities maintained a Market Outperform rating on the company’s shares with a $320 price target, citing potential for Carvana to handle over 3 million retail units annually and achieve its long-term EBITDA margin goals. Similarly, JPMorgan (NYSE:JPM) raised its price target for Carvana to $350 from $300 while keeping an Overweight rating, expressing confidence in the company’s continued positive performance. BofA Securities also expressed confidence in Carvana, maintaining a Buy rating and a price target of $252, following an analysis of robust growth in retail used car sales.
Citi upgraded Carvana’s stock rating from Neutral to Buy and increased the price target to $277, reflecting confidence in Carvana’s ability to scale up its inventory in response to growing consumer demand. Lastly, Needham reiterated a Buy rating on Carvana shares with a price target of $330, despite concerns about the company’s future growth prospects due to a reduced appetite for auto loans. These recent developments reflect analysts’ generally positive outlook on Carvana, based on the company’s capacity to scale operations and improve profit margins.
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