CarGurus (NASDAQ:CARG) COO Sells 10,000 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $36.50, for a total value of $365,000.00. Following the sale, the chief operating officer owned 465,349 shares of the company’s stock, valued at approximately $16,985,238.50. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Stock Performance

Shares of CARG traded down $0.90 during trading hours on Monday, reaching $35.66. The stock had a trading volume of 1,284,303 shares, compared to its average volume of 1,242,854. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $41.22. The stock has a market capitalization of $3.18 billion, a PE ratio of 19.38, a PEG ratio of 1.30 and a beta of 1.17. The company’s 50-day moving average is $35.35 and its two-hundred day moving average is $33.15.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The business had revenue of $250.97 million for the quarter, compared to the consensus estimate of $249.85 million. During the same period last year, the company earned $0.57 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. Equities analysts anticipate that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

Institutional Trading of CarGurus

Several hedge funds have recently made changes to their positions in the company. Convergence Investment Partners LLC bought a new position in CarGurus in the fourth quarter worth approximately $3,742,000. Bank of America Corp DE grew its position in shares of CarGurus by 26.6% during the 1st quarter. Bank of America Corp DE now owns 586,346 shares of the company’s stock valued at $19,965,000 after acquiring an additional 123,364 shares during the period. Westover Capital Advisors LLC bought a new stake in shares of CarGurus during the 4th quarter valued at $1,912,000. Louisiana State Employees Retirement System purchased a new stake in shares of CarGurus in the 1st quarter worth $1,226,000. Finally, Lazard Asset Management LLC lifted its position in CarGurus by 180.8% during the first quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock valued at $15,182,000 after purchasing an additional 287,067 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Oppenheimer boosted their target price on shares of CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Citigroup upped their target price on shares of CarGurus from $32.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Barclays lifted their price target on CarGurus from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada boosted their price objective on CarGurus from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.75.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.