CarGurus (NASDAQ:CARG) Director Ian G. Smith sold 4,650 shares of the stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $31.17, for a total transaction of $144,940.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CARG stock opened at $31.66 on Friday. CarGurus has a one year low of $25.85 and a one year high of $40.60.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $98.70 million for the quarter, compared to the consensus estimate of $94.15 million. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. sell-side analysts expect that CarGurus will post 0.11 earnings per share for the current year.
Several research analysts have weighed in on the stock. DA Davidson assumed coverage on shares of CarGurus in a research report on Wednesday, April 4th. They issued a “neutral” rating and a $41.00 price target on the stock. Zacks Investment Research downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research report on Tuesday, March 6th. Benchmark assumed coverage on shares of CarGurus in a research report on Thursday, March 22nd. They issued a “buy” rating and a $42.00 price target on the stock. BidaskClub upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. Finally, ValuEngine downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.80.
Several hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of CarGurus by 12.8% during the 1st quarter. Northern Trust Corp now owns 20,129 shares of the company’s stock valued at $775,000 after purchasing an additional 2,292 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of CarGurus during the 4th quarter valued at $210,000. Schwab Charles Investment Management Inc. raised its position in shares of CarGurus by 36.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,886 shares of the company’s stock valued at $1,073,000 after purchasing an additional 7,468 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of CarGurus during the 1st quarter valued at $290,000. Finally, Skye Global Management LP bought a new stake in shares of CarGurus during the 1st quarter valued at $308,000. Hedge funds and other institutional investors own 50.54% of the company’s stock.
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.
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