CarGurus, Inc. (NASDAQ:CARG) COO Sells $307,800.00 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Samuel Zales also recently made the following trade(s):

• On Monday, February 3rd, Samuel Zales sold 20,000 shares of CarGurus stock. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00.
• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The stock was sold at an average price of $36.62, for a total transaction of $360,963.34.

CarGurus Trading Down 0.1 %

Shares of NASDAQ CARG opened at $29.91 on Thursday. The firm has a market capitalization of $3.12 billion, a P/E ratio of 166.18, a P/E/G ratio of 1.72 and a beta of 1.52. The firm’s 50-day moving average price is $35.98 and its 200-day moving average price is $34.22. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. Equities research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CARG. JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Oppenheimer decreased their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $39.55.

Institutional Trading of CarGurus

Several hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System raised its holdings in CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock worth $1,553,000 after buying an additional 300 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of CarGurus by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company’s stock worth $332,000 after acquiring an additional 423 shares during the last quarter. Principal Securities Inc. lifted its position in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after acquiring an additional 424 shares in the last quarter. Fifth Third Bancorp boosted its stake in CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in CarGurus by 6.6% during the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company’s stock valued at $281,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.