CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn Sells 3,978 Shares

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 3,978 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the transaction, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The sale was disclosed in a filing with the SEC, which is available at this link.

CarGurus Trading Down 4.6 %

Shares of NASDAQ:CARG opened at $24.33 on Thursday. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $26.90. The business has a 50 day moving average of $24.32 and a two-hundred day moving average of $23.56. The company has a market capitalization of $2.53 billion, a PE ratio of 86.89, a PEG ratio of 1.48 and a beta of 1.57.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The firm had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.29 million. Equities research analysts predict that CarGurus, Inc. will post 0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CARG shares. Royal Bank of Canada boosted their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, May 10th. UBS Group boosted their price target on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on CarGurus from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. DA Davidson upped their target price on CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Needham & Company LLC increased their price target on shares of CarGurus from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of CarGurus in the 3rd quarter valued at about $32,000. O Shaughnessy Asset Management LLC acquired a new position in shares of CarGurus during the 3rd quarter worth approximately $342,000. Gotham Asset Management LLC raised its stake in shares of CarGurus by 164.9% during the 3rd quarter. Gotham Asset Management LLC now owns 100,121 shares of the company’s stock worth $1,754,000 after buying an additional 62,319 shares during the period. Lazard Asset Management LLC lifted its position in shares of CarGurus by 81.3% during the 3rd quarter. Lazard Asset Management LLC now owns 19,398 shares of the company’s stock valued at $339,000 after buying an additional 8,699 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in CarGurus in the 3rd quarter valued at $190,000. 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.