CarGurus, Inc. (NASDAQ:CARG) COO Sells $795,812.16 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the sale, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

CarGurus Price Performance

NASDAQ CARG opened at $31.58 on Monday. The business’s fifty day moving average price is $29.16 and its 200-day moving average price is $25.94. 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 1-year low of $16.70 and a 1-year high of $31.94.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. Equities research analysts anticipate that CarGurus, Inc. will post 1.18 EPS for the current year.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of analyst reports. B. Riley boosted their price target on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. DA Davidson reaffirmed a “neutral” rating and issued a $26.50 price objective on shares of CarGurus in a research report on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price objective on shares of CarGurus in a research report on Monday, September 9th. Finally, Needham & Company LLC upped their price objective on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $29.35.

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus during the 3rd quarter valued at $30,000. CWM LLC increased its stake in shares of CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares in the last quarter. Headlands Technologies LLC purchased a new position in CarGurus during the first quarter valued at $49,000. Finally, GAMMA Investing LLC lifted its position in CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after purchasing an additional 425 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

CarGurus Company Profile

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.