Insider Selling: CarGurus Inc (CARG) Director Sells 5,300 Shares of Stock

CarGurus Inc (NASDAQ:CARG) Director Ian G. Smith sold 5,300 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $32.98, for a total value of $174,794.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ CARG traded down $0.06 during trading hours on Tuesday, reaching $32.48. The company’s stock had a trading volume of 560,911 shares, compared to its average volume of 296,585. The stock has a market capitalization of $3,428.90 and a price-to-earnings ratio of 270.67. CarGurus Inc has a 1-year low of $25.85 and a 1-year high of $40.60.

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CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, March 1st. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $87.71 million during the quarter, compared to analyst estimates of $86.22 million. The business’s revenue for the quarter was up 197.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. equities analysts anticipate that CarGurus Inc will post 0.1 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the company. BidaskClub cut CarGurus from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised CarGurus from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Monday, January 8th. DA Davidson assumed coverage on CarGurus in a report on Wednesday, April 4th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Benchmark assumed coverage on CarGurus in a report on Thursday, March 22nd. They issued a “buy” rating and a $42.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.20.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARG. Spinnaker Capital LLC acquired a new position in CarGurus in the 4th quarter worth about $410,972,000. Bollard Group LLC acquired a new position in CarGurus in the 4th quarter worth about $318,223,000. The Manufacturers Life Insurance Company acquired a new position in CarGurus in the 4th quarter worth about $100,212,000. Abdiel Capital Advisors LP acquired a new position in CarGurus in the 4th quarter worth about $7,495,000. Finally, Clearbridge Investments LLC acquired a new position in CarGurus in the 4th quarter worth about $6,752,000. 57.41% of the stock is owned by institutional investors.

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About CarGurus

CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.

Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

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