CarGurus, Inc. (NASDAQ:CARG) General Counsel Javier Zamora Sells 6,154 Shares

CarGurus, Inc. (NASDAQ:CARG) General Counsel Javier Zamora sold 6,154 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the sale, the general counsel directly owned 92,807 shares of the company’s stock, valued at $3,248,245. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

CarGurus Trading Up 0.3%

CarGurus stock opened at $34.39 on Tuesday. The firm has a market capitalization of $3.59 billion, a P/E ratio of 98.26, a P/E/G ratio of 1.68 and a beta of 1.44. The stock’s fifty day simple moving average is $32.11 and its 200-day simple moving average is $32.72. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. CarGurus’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of CarGurus during the second quarter worth $354,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of CarGurus during the second quarter worth $192,000. Assenagon Asset Management S.A. increased its holdings in shares of CarGurus by 420.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 126,486 shares of the company’s stock valued at $4,233,000 after acquiring an additional 102,187 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of CarGurus by 0.6% in the 1st quarter. Rhumbline Advisers now owns 236,783 shares of the company’s stock valued at $6,897,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of CarGurus in the 1st quarter valued at about $877,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Citigroup reduced their price target on shares of CarGurus from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, July 3rd. Needham & Company LLC reduced their price target on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. UBS Group upped their price target on CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, JMP Securities restated a “market perform” rating and set a $38.00 price target on shares of CarGurus in a research note on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.63.

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.