Insider Selling: CarGurus Inc (NASDAQ:CARG) COO Sells $641,340.00 in Stock

CarGurus Inc (NASDAQ:CARG) COO Samuel Zales sold 18,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $35.63, for a total value of $641,340.00.

Samuel Zales also recently made the following trade(s):

  • On Monday, August 12th, Samuel Zales sold 18,000 shares of CarGurus stock. The shares were sold at an average price of $31.60, for a total value of $568,800.00.
  • On Thursday, July 11th, Samuel Zales sold 18,000 shares of CarGurus stock. The shares were sold at an average price of $37.09, for a total value of $667,620.00.

Shares of CARG opened at $33.13 on Thursday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $33.23 and a two-hundred day simple moving average of $36.56. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 115.17, a PEG ratio of 3.40 and a beta of 1.88. CarGurus Inc has a 52 week low of $30.22 and a 52 week high of $57.25.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $145.03 million during the quarter, compared to analysts’ expectations of $140.67 million. CarGurus had a return on equity of 17.12% and a net margin of 8.22%. The business’s quarterly revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, equities analysts anticipate that CarGurus Inc will post 0.28 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CARG. Geode Capital Management LLC grew its position in shares of CarGurus by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 824,067 shares of the company’s stock worth $27,795,000 after purchasing an additional 98,854 shares in the last quarter. Comerica Bank grew its position in shares of CarGurus by 7.2% during the first quarter. Comerica Bank now owns 18,632 shares of the company’s stock worth $740,000 after purchasing an additional 1,248 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of CarGurus by 1.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,972 shares of the company’s stock worth $880,000 after purchasing an additional 270 shares in the last quarter. Raymond James & Associates grew its position in shares of CarGurus by 223.5% during the first quarter. Raymond James & Associates now owns 105,653 shares of the company’s stock worth $4,232,000 after purchasing an additional 72,996 shares in the last quarter. Finally, 361 Capital LLC grew its position in shares of CarGurus by 8.7% during the first quarter. 361 Capital LLC now owns 75,275 shares of the company’s stock worth $3,016,000 after purchasing an additional 6,014 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

A number of brokerages have commented on CARG. JMP Securities reduced their price target on CarGurus to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. BidaskClub upgraded CarGurus from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Needham & Company LLC began coverage on CarGurus in a research report on Thursday, September 12th. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.42.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

Further Reading: Depreciation

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

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