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

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now owns 390,025 shares of the company’s stock, valued at $12,004,969.50. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value 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 value of $360,963.34.

CarGurus Price Performance

Shares of CARG opened at $29.87 on Friday. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The company has a 50-day moving average of $35.69 and a 200 day moving average of $34.16. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 165.95, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data 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 net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. On average, equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CARG. JPMorgan Chase & Co. increased their price target on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. Finally, Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. One 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’s stock. According to MarketBeat.com, CarGurus has a consensus rating of “Buy” and an average target price of $39.55.

Institutional Investors Weigh In On CarGurus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARG. Arrowstreet Capital Limited Partnership increased its position in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock valued at $55,704,000 after purchasing an additional 957,035 shares during the period. Wellington Management Group LLP increased its position in CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock valued at $261,091,000 after purchasing an additional 802,602 shares during the period. Loomis Sayles & Co. L P purchased a new position in CarGurus during the 3rd quarter valued at about $21,052,000. No Street GP LP purchased a new position in CarGurus during the 4th quarter valued at about $25,578,000. Finally, Raymond James Financial Inc. purchased a new position in CarGurus during the 4th quarter valued at about $19,465,000. Institutional investors 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.