Samuel Zales Sells 10,000 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the transaction, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 3rd, Samuel Zales sold 20,000 shares of CarGurus stock. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00.
• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34.

CarGurus Stock Performance

CarGurus stock opened at $29.93 on Wednesday. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The stock has a market cap of $3.13 billion, a PE ratio of 166.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The stock has a 50-day moving average of $35.98 and a two-hundred day moving average of $34.22.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. As a group, sell-side analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On CarGurus

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CarGurus by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company’s stock worth $353,959,000 after acquiring an additional 225,430 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of CarGurus by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock worth $261,091,000 after purchasing an additional 802,602 shares during the last quarter. State Street Corp raised its stake in shares of CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after purchasing an additional 74,730 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in CarGurus by 168.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after buying an additional 957,035 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CARG shares. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer reduced their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Buy” and a consensus target price of $39.55.

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.