Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 25,168 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now owns 449,821 shares of the company’s stock, valued at $14,223,340.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, August 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12.

CarGurus Price Performance

NASDAQ CARG opened at $31.58 on Friday. The business’s fifty day moving average is $29.16 and its 200-day moving average is $25.90. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 112.79, a PEG ratio of 1.48 and a beta of 1.56. CarGurus, Inc. has a one year low of $16.70 and a one year high of $31.94.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The business had revenue of $218.69 million for the quarter, compared to analyst estimates of $214.85 million. Research analysts expect that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CARG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of CarGurus in a report on Monday, September 9th. BTIG Research increased their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. DA Davidson reissued a “neutral” rating and issued a $26.50 price target on shares of CarGurus in a research report on Tuesday, September 10th. Finally, Citigroup upped their price objective on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and an average target price of $29.35.

Hedge Funds Weigh In On CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of CARG. Vanguard Group Inc. raised its stake in shares of CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after buying an additional 107,244 shares during the period. Wellington Management Group LLP increased its holdings in CarGurus by 39.6% in the 4th quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after acquiring an additional 1,619,076 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in CarGurus by 6.5% during the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after purchasing an additional 89,346 shares during the last quarter. Select Equity Group L.P. lifted its holdings in CarGurus by 2.8% during the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after purchasing an additional 31,431 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in CarGurus by 26.5% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after purchasing an additional 228,380 shares during the period. 86.90% of the stock is owned by institutional investors.

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.