CarGurus Inc (CARG) CEO Langley Steinert Sells 117,406 Shares

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $37.50, for a total transaction of $4,402,725.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

  • On Friday, November 9th, Langley Steinert sold 71,753 shares of CarGurus stock. The stock was sold at an average price of $43.39, for a total transaction of $3,113,362.67.
  • On Wednesday, November 7th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $41.55, for a total transaction of $4,878,219.30.
  • On Monday, November 5th, Langley Steinert sold 176,109 shares of CarGurus stock. The stock was sold at an average price of $44.10, for a total transaction of $7,766,406.90.
  • On Tuesday, October 9th, Langley Steinert sold 130,456 shares of CarGurus stock. The stock was sold at an average price of $48.43, for a total transaction of $6,317,984.08.
  • On Thursday, October 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $51.41, for a total transaction of $6,035,842.46.
  • On Tuesday, October 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $53.19, for a total transaction of $6,244,825.14.
  • On Tuesday, September 11th, Langley Steinert sold 176,109 shares of CarGurus stock. The stock was sold at an average price of $49.30, for a total transaction of $8,682,173.70.

CARG traded down $1.49 on Friday, reaching $35.92. The stock had a trading volume of 246,054 shares, compared to its average volume of 913,034. CarGurus Inc has a 12-month low of $28.52 and a 12-month high of $57.25. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 299.33, a PEG ratio of 55.48 and a beta of 1.83.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. CarGurus had a net margin of 11.78% and a return on equity of 9.82%. The company had revenue of $119.04 million during the quarter, compared to analysts’ expectations of $112.70 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 43.4% on a year-over-year basis. On average, analysts predict that CarGurus Inc will post 0.13 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its holdings in CarGurus by 401.5% in the third quarter. Marshall Wace LLP now owns 418,467 shares of the company’s stock valued at $23,304,000 after buying an additional 335,029 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of CarGurus by 3.3% in the third quarter. Clearbridge Investments LLC now owns 251,937 shares of the company’s stock valued at $14,030,000 after purchasing an additional 8,131 shares during the period. Vanguard Group Inc. grew its position in shares of CarGurus by 20.2% in the third quarter. Vanguard Group Inc. now owns 4,512,695 shares of the company’s stock valued at $251,312,000 after purchasing an additional 759,094 shares during the period. TIAA CREF Investment Management LLC grew its position in shares of CarGurus by 142.1% in the third quarter. TIAA CREF Investment Management LLC now owns 261,259 shares of the company’s stock valued at $14,550,000 after purchasing an additional 153,364 shares during the period. Finally, Teachers Advisors LLC grew its position in shares of CarGurus by 8.7% in the third quarter. Teachers Advisors LLC now owns 342,546 shares of the company’s stock valued at $19,076,000 after purchasing an additional 27,334 shares during the period. 68.67% of the stock is owned by institutional investors.

Several research analysts recently issued reports on CARG shares. BTIG Research started coverage on shares of CarGurus in a report on Tuesday, November 13th. They set a “buy” rating and a $48.00 target price for the company. Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a report on Monday, August 13th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Royal Bank of Canada lifted their price objective on shares of CarGurus from $55.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, November 8th. Finally, SunTrust Banks started coverage on shares of CarGurus in a report on Monday, November 19th. They issued a “buy” rating and a $49.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $50.75.

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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.

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

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