Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 17,668 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 17,668 shares of the firm’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 completion of the transaction, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 Trading Up 1.5 %

Shares of NASDAQ CARG opened at $21.54 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of 119.67, a P/E/G ratio of 1.32 and a beta of 1.58. The stock has a 50 day moving average of $22.91 and a 200-day moving average of $21.74. CarGurus, Inc. has a 12 month low of $15.34 and a 12 month high of $24.64.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million during the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The firm’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. Analysts predict that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of CarGurus

Several hedge funds have recently added to or reduced their stakes in CARG. BlackRock Inc. lifted its holdings in CarGurus by 113.0% during the 2nd quarter. BlackRock Inc. now owns 14,824,129 shares of the company’s stock worth $335,470,000 after purchasing an additional 7,863,827 shares during the last quarter. Wellington Management Group LLP lifted its holdings in CarGurus by 30.4% during the 1st quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock worth $599,905,000 after purchasing an additional 3,294,532 shares during the last quarter. Durable Capital Partners LP acquired a new stake in CarGurus during the 4th quarter worth approximately $45,581,000. Morgan Stanley raised its holdings in CarGurus by 44.9% in the 4th quarter. Morgan Stanley now owns 6,112,679 shares of the company’s stock valued at $85,639,000 after acquiring an additional 1,893,891 shares in the last quarter. Finally, State Street Corp raised its holdings in CarGurus by 59.8% in the 2nd quarter. State Street Corp now owns 3,298,003 shares of the company’s stock valued at $74,634,000 after acquiring an additional 1,234,099 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

About CarGurus

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.