COO Benjamin Huston sold $3.2M worth of shares at $64.50, reducing his direct stake by 8.5% from a position 14.9% above the 90-day low. This sale continues a well-established pattern of monthly liquidations, with 22 prior sells and zero buys, indicating routine diversification rather than a tactical market call. Our 7-8 conviction officer sells historically underperform SPY by 8.0% at 30 days; bear breaks $56.12 support.

Where it could go — Our 7-8 conviction officer sells: 35% beat SPY at 30d, avg -8.0% vs SPY.

Director Michael Maroone bought $1.5M worth of CVNA shares at $61.80, increasing his stake by 17.4% at a price 24.6% below the 90-day high. This represents his largest purchase since 2022 and comes when the stock is significantly discounted from recent peaks despite analyst consensus remaining bullish. Bull: holds above $56 support → targets $72 resistance; bear: breaks $56.

Where it could go — Our 5-6 conviction director buys: 65% beat SPY at 30d; bull holds $56, bear breaks $56.

VP Palmer sold $322K worth of CVNA shares at $64.49, reducing his directly held stake by 3.5% in another routine monthly transaction. This represents the 12th sell transaction in a consistent pattern of monthly distributions with no other insider buyers, indicating planned diversification rather than market timing.

Where it could go — Our 1-4 conviction officer sells: 56% beat SPY at 30d with +2.4% average outperformance; watch $56.12 as key support.

CFO Mark Jenkins exercised and sold 63,750 options at $64.50 for $4.1M, maintaining his pre-existing stake unchanged. This transaction is identical to his monthly exercise-and-sell pattern dating back to February 2026, representing mechanical option expiration rather than a market view. Bull: holds $56.12 support → +15% to $74; bear breaks $56.12 → retests $50.

Where it could go — Our 1-4 conviction officer sells: 56% beat SPY at 30d; bull holds $56, bear breaks $56.

VP Palmer sold $343K worth of CVNA shares, reducing his direct holdings by 3.3% at $68.53, continuing his established monthly selling routine. This appears to be routine diversification rather than a meaningful bearish signal, given the consistent pattern and absence of other insider buyers.

Where it could go — Our 1-4 conviction officer sells: 57% beat SPY at 30d (n=1561, avg +3.0% vs SPY); watch $73.55 as resistance, $61.03 as support.

CVNA COO Benjamin Huston sold $3.4M worth of shares at $68.55, reducing his directly held stake by 9.8% at a price 18.6% below the 90-day high. This marks his 23rd all-time sale and continues a pattern of monthly $3M+ distributions since January, indicating sustained insider liquidity needs rather than a tactical market call. Bear: breaks $59.38 support → targets $55; bull holds $73.55 resistance.

Where it could go — Our 7-8 conviction officer sells: 64% beat SPY at 30d; bear breaks $59.38, bull holds $73.55.

CFO Mark Jenkins exercised and sold 63,750 options for $4.4M at $68.34, a price 18.6% below the 90-day high, in a transaction that leaves his core holdings unchanged. This is a mechanical, recurring event consistent with his 21 prior sales and does not signal a change in insider outlook. Bull: holds above the 90-day low of $59.38 and meets the $0.39 EPS consensus in 29 days → targets a return to the $73.55 30-day high. Bear: breaks $59.38.

Where it could go — Our 1-4 conviction officer sells: 57% beat SPY at 30d; bull holds $59.38, bear breaks it.

Director Ira Platt exercised options and sold 15,000 shares worth $1.0M at $67.83, maintaining his existing stake unchanged. This appears to be a mechanical transaction rather than a meaningful reduction in position, consistent with his history of 8 prior sales on this ticker.

Where it could go — Analyst mean target unavailable; consensus BUY rating with 22 buys, 9 holds, 1 sell among 32 analysts.

QUAYLE J DANFORTH exercised 14,525 options at $3.00 and sold the resulting shares at $70.00 ($1.0M). The sale came from newly exercised options and did not reduce previously held shares, leaving 214,960 directly held shares.

Where it could go — Exercise-and-sell transactions are largely mechanical and carry limited directional signal.

President Taira Thomas sold $376K in CVNA shares, reducing her stake by -1.7% at $67.15, 20% below the 90-day high. This continues her pattern of 12 lifetime sales with no buying activity, reinforcing negative insider sentiment despite analyst optimism.

Where it could go — 11 similar CVNA signals averaged -10.4% at 30d; watch $61.03 as bear break level, $78.38 as bull trigger.

VP Stephen Palmer sold $141K worth of CVNA shares, reducing his stake by just 1.3% from his 157K share position. This appears to be routine portfolio management rather than a meaningful vote against the stock given the small size and lack of other insider selling.

Where it could go — Analyst mean target implies upside; bear case if stock breaks $61 support.

VP Stephen Palmer sold $141K worth of CVNA shares, reducing his stake by just 1.3% from his 157K share position. This appears to be routine portfolio management rather than a meaningful vote against the stock given the small size and lack of other insider selling.

Where it could go — Analyst mean target implies upside; bear case if stock breaks $61 support.

JENKINS MARK W. exercised 63,750 options at $3.51 and sold the resulting shares at $69.72 ($1.7M). The sale came from newly exercised options and did not reduce previously held shares, leaving 1,076,085 directly held shares.

Where it could go — Exercise-and-sell transactions are largely mechanical and carry limited directional signal.

HUSTON BENJAMIN E. exercised 50,000 options at $2.01 and sold the resulting shares at $69.72 ($1.3M). The sale came from newly exercised options and did not reduce previously held shares, leaving 546,664 directly held shares.

Where it could go — Exercise-and-sell transactions are largely mechanical and carry limited directional signal.

HUSTON BENJAMIN E. exercised 50,000 options at $2.01 and sold the resulting shares at $69.72 ($1.3M). The sale came from newly exercised options and did not reduce previously held shares, leaving 546,664 directly held shares.

Where it could go — Exercise-and-sell transactions are largely mechanical and carry limited directional signal.

HUSTON BENJAMIN E. exercised 50,000 options at $2.01 and sold the resulting shares at $69.72 ($1.3M). The sale came from newly exercised options and did not reduce previously held shares, leaving 546,664 directly held shares.

Where it could go — Exercise-and-sell transactions are largely mechanical and carry limited directional signal.

Taira Thomas, President of Special Projects at Carvana, executed a Code-S open-market sale of 4,447 shares at $79.80 on 2026-05-08, reducing holdings by 6.7% ($355K notional value). This is the insider's first Form 4 filing on record—no prior buys or sells—making the transaction a baseline event with no directional history to anchor conviction. The sale occurred 46.5% above the 90-day low ($54.46) and 5.0% below the 90-day high ($83.97), consistent with opportunistic liquidation during a recovery phase rather than panic selling.

Where it could go — Analyst consensus is 22 BUY / 9 HOLD / 1 SELL (69% bullish); if the thesis holds, mean analyst target implies upside from the $79.80 entry, but invalidated if stock breaks below the $63.26 30-day low or the $54.46 90-day low.