144 ·Filed May 1, 2026

CVNA

CARVANA CO.
BEARISH
Impact 7/10
Horizonweeks Processed5mo ago SEC0001017608-26-000001
Form 144 — notice of proposed sale of securities
Actionable Insight ▼ Bearish

Monitor for actual execution of the sale; a completed sale of this magnitude could pressure the stock near term. The covered call structure may limit downside but suggests Garcia expects limited upside. Watch for any additional insider selling patterns.

DirectionBearish
Confidencehigh
Horizonweeks
Final — all horizons settled through T+60d ⚠ clustered
CVNA ▼ -82.39% at T+60d
SHORT call ✓ call won +82.39% · α vs SPY +83.98% · entry $376.50 → $66.32
Entry anchored
May 1, 2026
via day open
T+1d
+3.07%
call -3.07% · α -2.28%
$388.07
settled 5mo ago
T+5d
-79.75%
call +79.75% · α +82.69%
$76.23
settled 5mo ago
T+20d
-81.14%
call +81.14% · α +86.79%
$71.00
settled 4mo ago
T+60d
-82.39%
call +82.39% · α +83.98%
$66.32
settled 2mo ago

Price Chart

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Executive Summary

Ernest C. Garcia II, co-founder and 10% stockholder of Carvana, filed a Form 144 indicating intent to sell up to 4,000,000 shares of Class A Common Stock via covered call transactions, valued at approximately $1.58 billion. This represents about 2.8% of his disclosed holdings and roughly 1.8% of Carvana's market cap, signaling significant insider selling.

Key Facts

  • Ernest C. Garcia II (10% stockholder) filed Form 144 to sell up to 4,000,000 shares.
  • Shares are to be sold via covered call options through Citigroup Global Markets Inc.
  • Sale value estimated at $1.58 billion based on filing date price of ~$395.80/share.
  • Garcia beneficially owns 143,257,677 shares; proposed sale is ~2.8% of holdings.
  • Shares underlying the covered calls are from conversion of Class B Common Stock and Class A Units of Carvana Group LLC.

Financial Impact

$1.58 billion worth of shares proposed for sale (4,000,000 shares).

dilutioninsider ownership

Risk Factors

  • Significant insider selling overhang on stock.
  • Possible negative signal on valuation from a co-founder.
  • Potential for further insider sales or bearish sentiment.

Market Snapshot

Exchange
NYSE
Sector
Retail-Auto Dealers & Gasoline Stations
Analyst Consensus
72% bullish (32 analysts)

Investment Themes

E-commerce & Platforms

Documents Analyzed

This report is based on 3 SEC documents filed with EDGAR.

DocumentAccession Number
144 Filing (Primary)0001017608-26-000001
Document: 0001017608-26-000001-index.html0001017608-26-000001
Document: 0001017608-26-000001.txt0001017608-26-000001
25 reports for CVNA
Performance horizon
100% Hit rate 3 of 3 directional calls best @ T+60▲ +83.18%May 1, 2026
Filters
Rows
Reports for CVNA — sortable, filterable
TypeNow
Sep 3, 2026
28d ago
Insider Cluster
MIXED ★ 6/10
$74.59 $70.87▼ −4.99%▼ −3.78%$63.77 (−14.51%)
Aug 17, 2026
6w ago
Insider Cluster
NEUTRAL ★ 3/10
$65.00 $75.77▲ +16.57%▲ +16.77%$63.77 (−1.89%)
Aug 4, 2026
8w ago
Insider Buy
NEUTRAL ★ 2/10
$69.48 $72.48▲ +4.32%▲ +3.97%$63.77 (−8.22%)
Aug 4, 2026
8w ago
Insider Cluster
NEUTRAL ★ 3/10
$69.48 $72.48▲ +4.32%▲ +3.97%$63.77 (−8.22%)
Jul 2, 2026
13w ago
Insider Cluster
NEUTRAL ★ 3/10
$68.60 $67.12▼ −2.16%▼ −3.09%$63.77 (−7.04%)
Jun 16, 2026
15w ago
Insider Cluster
NEUTRAL ★ 2/10
$62.86 $67.91▲ +8.03%▲ +9.08%$63.77 (+1.45%)
Jun 12, 2026
16w ago
Institutional Cluster
MIXED ★ 5/10
$64.10 $66.56▲ +3.84%▲ +3.17%$63.77 (−0.51%)
Jun 11, 2026
16w ago
Insider Cluster
NEUTRAL ★ 2/10
$64.10 $66.56▲ +3.84%▲ +3.17%$63.77 (−0.51%)
Jun 9, 2026
16w ago
Insider Cluster
NEUTRAL ★ 2/10
$67.25 $70.04▲ +4.15%▲ +0.72%$63.77 (−5.17%)
Jun 8, 2026
16w ago
144
NEUTRAL ★ 2/10
$69.61 $68.90▼ −1.02%▼ −3.43%$63.77 (−8.39%)
Showing 10 of 25

US Market Status

Market Closed — Opens Mon (65h 4m)

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