Insider Selling: CarGurus Inc (CARG) CEO Sells 130,456 Shares of Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 130,456 shares of the business’s stock in a transaction dated Wednesday, July 11th. The shares were sold at an average price of $35.83, for a total value of $4,674,238.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Langley Steinert also recently made the following trade(s):

  • On Friday, July 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $35.85, for a total value of $4,209,005.10.
  • On Tuesday, July 3rd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $35.28, for a total value of $4,142,083.68.
  • On Monday, June 11th, Langley Steinert sold 13,050 shares of CarGurus stock. The shares were sold at an average price of $34.68, for a total value of $452,574.00.
  • On Friday, June 8th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $34.30, for a total value of $4,027,025.80.
  • On Wednesday, June 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $33.35, for a total value of $3,915,490.10.
  • On Monday, June 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $33.56, for a total value of $3,940,145.36.
  • On Tuesday, May 22nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $31.48, for a total value of $3,695,940.88.
  • On Friday, May 18th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $32.22, for a total value of $3,782,821.32.
  • On Wednesday, May 16th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $31.98, for a total value of $3,754,643.88.

Shares of CARG stock traded up $0.35 during trading hours on Wednesday, hitting $35.83. The stock had a trading volume of 338,553 shares, compared to its average volume of 545,984. CarGurus Inc has a one year low of $25.85 and a one year high of $40.60. The stock has a market capitalization of $3.94 billion and a price-to-earnings ratio of 298.75.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, May 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $98.70 million during the quarter, compared to the consensus estimate of $94.15 million. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. research analysts forecast that CarGurus Inc will post 0.11 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of CarGurus in the fourth quarter worth about $271,000. A.R.T. Advisors LLC bought a new stake in shares of CarGurus in the first quarter worth about $290,000. Skye Global Management LP bought a new stake in shares of CarGurus in the first quarter worth about $308,000. Millennium Management LLC bought a new stake in shares of CarGurus in the first quarter worth about $499,000. Finally, Verition Fund Management LLC bought a new stake in shares of CarGurus in the first quarter worth about $518,000. 50.56% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently commented on CARG. ValuEngine downgraded CarGurus from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Benchmark restated a “buy” rating and issued a $44.00 price objective (up from $42.00) on shares of CarGurus in a research report on Monday, April 30th. BidaskClub downgraded CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, April 14th. DA Davidson began coverage on CarGurus in a research report on Wednesday, April 4th. They issued a “neutral” rating and a $41.00 price objective on the stock. Finally, Zacks Investment Research upgraded CarGurus from a “sell” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.80.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

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