Carvana director Ira Platt sells $2.2 million in stock
Carvana Co. director Ira J. Platt made a significant move by selling $2.2 million worth of Class A Common Stock on August 13 and 14, 2026. The stock was sold in two separate transactions, with 15,000 shares each day, as Platt exercised stock options. Carvana's stock was trading at $70.09, which is below InvestingPro’s Fair Value estimate, indicating the company might be undervalued.
The sale price varied between $73.00 and $75.50 per share, resulting in a total value of $2,227,500. Prior to this, Platt had acquired 15,000 shares each day through options, which began vesting 25% in 2018 and continued monthly for three years. Platt now directly owns 186,470 shares, and indirectly holds additional shares through trusts and a charitable foundation.
Analysts have varying opinions on Carvana, with some maintaining an Overweight rating due to its market share growth and long-term potential, while others have adjusted their price targets based on differing assessments of the company's fiscal 2026 EBITDA guidance.
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