CarGurus, Inc. (NASDAQ:CARG) COO Sells $378,448.56 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $11,756,259.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 18th, Samuel Zales sold 17,668 shares of CarGurus stock. The shares were sold at an average price of $22.56, for a total value of $398,590.08.
• On Thursday, February 29th, Samuel Zales sold 17,668 shares of CarGurus stock. The shares were sold at an average price of $22.22, for a total value of $392,582.96.

CarGurus Stock Down 1.7 %

CarGurus stock opened at $21.22 on Thursday. The business has a fifty day moving average of $22.94 and a two-hundred day moving average of $21.74. The firm has a market cap of $2.28 billion, a P/E ratio of 117.89, a P/E/G ratio of 1.32 and a beta of 1.58. CarGurus, Inc. has a twelve month low of $15.34 and a twelve month high of $24.64.

CarGurus (NASDAQ:CARG) last posted its earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $223.12 million during the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. CarGurus’s revenue was down 22.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Equities analysts expect that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Institutional Trading of CarGurus

A number of hedge funds have recently bought and sold shares of the stock. Quarry LP lifted its holdings in CarGurus by 32.5% during the first quarter. Quarry LP now owns 2,269 shares of the company’s stock worth $42,000 after buying an additional 556 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of CarGurus by 56.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,741 shares of the company’s stock valued at $33,000 after purchasing an additional 631 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of CarGurus by 1.2% during the 4th quarter. State of Tennessee Treasury Department now owns 55,100 shares of the company’s stock valued at $1,331,000 after purchasing an additional 674 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of CarGurus by 2.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 27,784 shares of the company’s stock valued at $629,000 after purchasing an additional 710 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of CarGurus by 11.2% during the 2nd quarter. Macquarie Group Ltd. now owns 8,148 shares of the company’s stock valued at $175,000 after purchasing an additional 818 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CARG shares. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a research note on Wednesday. Oppenheimer upped their target price on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. UBS Group increased their price objective on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC increased their price objective on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.90.

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.