Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells $378,448.56 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 17,668 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now directly owns 548,845 shares in the company, valued at $11,756,259.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, March 18th, Samuel Zales sold 17,668 shares of CarGurus stock. The stock was sold at an average price of $22.56, for a total transaction of $398,590.08.
• On Thursday, February 29th, Samuel Zales sold 17,668 shares of CarGurus stock. The stock was sold at an average price of $22.22, for a total transaction of $392,582.96.

CarGurus Stock Up 3.1 %

CARG stock opened at $22.20 on Friday. The company has a market capitalization of $2.39 billion, a P/E ratio of 123.33, a PEG ratio of 1.29 and a beta of 1.58. The company has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $21.78. CarGurus, Inc. has a fifty-two week low of $15.34 and a fifty-two week high of $24.64.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Equities analysts anticipate that CarGurus, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

CARG has been the topic of several recent analyst reports. Needham & Company LLC increased their price objective on shares of CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. UBS Group lifted their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JMP Securities reiterated a “market perform” rating on shares of CarGurus in a research note on Wednesday. Finally, Oppenheimer lifted their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.90.

Hedge Funds Weigh In On CarGurus

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in CarGurus by 113.0% during the second quarter. BlackRock Inc. now owns 14,824,129 shares of the company’s stock worth $335,470,000 after purchasing an additional 7,863,827 shares during the period. Wellington Management Group LLP lifted its position in CarGurus by 30.4% in the first quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock worth $599,905,000 after purchasing an additional 3,294,532 shares during the period. Durable Capital Partners LP bought a new position in CarGurus in the fourth quarter worth $45,581,000. Morgan Stanley raised its stake in CarGurus by 44.9% during the fourth quarter. Morgan Stanley now owns 6,112,679 shares of the company’s stock worth $85,639,000 after acquiring an additional 1,893,891 shares in the last quarter. Finally, State Street Corp increased its stake in shares of CarGurus by 59.8% in the second quarter. State Street Corp now owns 3,298,003 shares of the company’s stock valued at $74,634,000 after buying an additional 1,234,099 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.