Langley Steinert Sells 36,016 Shares of CarGurus Inc (NASDAQ:CARG) Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 36,016 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $38.01, for a total transaction of $1,368,968.16. Following the transaction, the chief executive officer now directly owns 2,884,088 shares in the company, valued at $109,624,184.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Langley Steinert also recently made the following trade(s):

  • On Thursday, November 7th, Langley Steinert sold 36,016 shares of CarGurus stock. The stock was sold at an average price of $37.16, for a total transaction of $1,338,354.56.
  • On Thursday, October 10th, Langley Steinert sold 78,272 shares of CarGurus stock. The stock was sold at an average price of $29.33, for a total transaction of $2,295,717.76.
  • On Monday, October 7th, Langley Steinert sold 2,500 shares of CarGurus stock. The stock was sold at an average price of $25.05, for a total transaction of $62,625.00.
  • On Wednesday, October 2nd, Langley Steinert sold 100,040 shares of CarGurus stock. The stock was sold at an average price of $30.95, for a total transaction of $3,096,238.00.
  • On Friday, October 4th, Langley Steinert sold 79,672 shares of CarGurus stock. The stock was sold at an average price of $30.15, for a total transaction of $2,402,110.80.
  • On Wednesday, September 11th, Langley Steinert sold 130,456 shares of CarGurus stock. The stock was sold at an average price of $34.23, for a total transaction of $4,465,508.88.
  • On Friday, September 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $33.15, for a total transaction of $3,892,008.90.
  • On Wednesday, September 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $32.03, for a total transaction of $3,760,514.18.

Shares of NASDAQ:CARG opened at $38.32 on Wednesday. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 67.23, a price-to-earnings-growth ratio of 2.72 and a beta of 1.88. CarGurus Inc has a 1-year low of $28.65 and a 1-year high of $45.25. The company’s fifty day moving average is $32.22 and its two-hundred day moving average is $34.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.85 and a current ratio of 2.85.

CarGurus (NASDAQ:CARG) last issued its earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.10. The company had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $147.99 million. CarGurus had a net margin of 7.44% and a return on equity of 18.30%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. Sell-side analysts expect that CarGurus Inc will post 0.35 EPS for the current fiscal year.

Several analysts recently issued reports on the stock. Consumer Edge assumed coverage on shares of CarGurus in a report on Friday, August 2nd. They issued an “overweight” rating on the stock. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Needham & Company LLC assumed coverage on shares of CarGurus in a report on Thursday, September 12th. They issued a “hold” rating on the stock. JMP Securities cut their price target on shares of CarGurus to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, TheStreet raised shares of CarGurus from a “d+” rating to a “c-” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.58.

Several large investors have recently modified their holdings of CARG. BlackRock Inc. raised its holdings in shares of CarGurus by 46.1% during the second quarter. BlackRock Inc. now owns 5,176,925 shares of the company’s stock worth $186,939,000 after purchasing an additional 1,632,759 shares during the period. HMI Capital LLC acquired a new stake in shares of CarGurus during the second quarter worth $45,149,000. Nuveen Asset Management LLC acquired a new stake in shares of CarGurus during the second quarter worth $26,835,000. Vanguard Group Inc. raised its holdings in shares of CarGurus by 10.1% during the second quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock worth $201,687,000 after purchasing an additional 512,647 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of CarGurus by 93.4% during the second quarter. Wells Fargo & Company MN now owns 891,158 shares of the company’s stock worth $32,179,000 after purchasing an additional 430,302 shares during the period. 66.14% of the stock is currently owned by institutional investors.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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