Carvana Father-Son Duo Cashed Out $147 Million on Stock Rebound

The father-son duo behind Carvana Co. has been reaping profits from the online used-car dealer’s share rebound.

The elder Ernie Garcia II, a major shareholder and the wealthier of the two, sold nearly 1.3 million shares worth $145 million in May. That’s the biggest monthly dollar amount since August 2021, when he sold over $329 million worth of stock near its pandemic-fueled all-time high — and the most shares he’s unloaded since December 2020.

His son, Carvana co-founder and Chief Executive Officer Ernie Garcia III, sold 18,100 shares worth $2.1 million in May, the biggest monthly total in ...