Carvana Co. (NASDAQ:CVNA) Chief Operating Officer Benjamin E. Huston has executed a series of transactions involving the company's Class A common stock. On May 1, 2026, Mr. Huston sold 9,400 shares in a transaction valued at approximately $3.85 million. The sale was conducted within a price range between $378.78 and $398.55 per share.
These specific sales were carried out under the framework of a Rule 10b5-1 trading plan, which Mr. Huston had originally adopted on December 13, 2024. This type of structured trading plan is designed to facilitate predetermined transactions by corporate insiders.
Equity Acquisitions and Vesting Events
In addition to the sale of common stock, Mr. Huston engaged in several acquisition activities on or around the same period. On May 1, 2026, he also exercised stock options to acquire 10,000 shares of Class A common stock. These options were exercised at a price of $10.07 per share, representing a total cost of $100,700. The options in question originated from a grant that followed a specific vesting schedule: 25% vested on April 1, 2024, with subsequent monthly vesting over a three-year period contingent upon his continued service. This particular exercise was also executed under the aforementioned 10b5-1 plan.
Prior to these May transactions, Mr. Huston saw an acquisition of shares through the vesting of restricted stock units (RSUs). On April 29, 2026, he acquired 22,231 shares of Class A common stock as a result of RSUs that were granted on January 24, 2024. These units met their required performance conditions and vested on the April date. During this vesting process, 9,193 shares were withheld to cover tax obligations at a price of $396.59 per share, an amount totaling roughly $3.65 million.
Following the completion of these reported transactions, Mr. Huston's direct holdings in Carvana Co. Class A common stock stand at 105,962 shares.
Market Context and Financial Performance
The timing of these insider transactions coincides with a period of notable growth for CVNA. Over the past year, Carvana's shares have seen a return of 52%, with the stock trading at $382.93 and the company maintaining a market capitalization of $84.2 billion.
The company's recent financial results have also prompted significant attention from the institutional sector. In its latest earnings report, Carvana disclosed revenue of $6.4 billion and an EBITDA of $672 million. Both figures outperformed the expectations set by Wall Street analysts, who had projected revenues of $6.1 billion and EBITDA of $657 million. Furthermore, the company's retail unit volume reached 187,000 units, a 40% increase that exceeded the anticipated 182,000 units.
Analyst Revisions
Following these results, several financial institutions have adjusted their outlooks for Carvana:
- BofA Securities: Raised its price target to $440 while maintaining a Neutral rating.
- UBS: Increased its price target to $520, noting that EBITDA was 4% above consensus expectations.
- Morgan Stanley: Lifted its price target to $510, citing momentum and profitable growth.
- Needham: Adjusted its target to $600 and kept the company on its Conviction List following first-quarter results.
- JPMorgan: Raised its target to $465, highlighting improvements in retail gross profit per unit for the first quarter of 2026.