Insider Selling: CarGurus Inc (NASDAQ:CARG) CEO Sells $2,113,895.03 in Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 58,703 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $36.01, for a total transaction of $2,113,895.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

  • On Wednesday, July 10th, Langley Steinert sold 130,456 shares of CarGurus stock. The shares were sold at an average price of $36.36, for a total transaction of $4,743,380.16.
  • On Wednesday, July 3rd, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $36.05, for a total transaction of $6,348,729.45.
  • On Monday, June 10th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $35.18, for a total transaction of $4,130,343.08.
  • On Thursday, June 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $34.27, for a total transaction of $4,023,503.62.
  • On Tuesday, June 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $33.68, for a total transaction of $3,954,234.08.
  • On Wednesday, May 8th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $40.06, for a total transaction of $4,703,284.36.
  • On Monday, May 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $40.59, for a total transaction of $4,765,509.54.
  • On Thursday, May 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $39.88, for a total transaction of $4,682,151.28.

CARG stock opened at $37.46 on Friday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 65.72, a P/E/G ratio of 3.99 and a beta of 1.83. The business has a 50-day moving average of $35.83. CarGurus Inc has a fifty-two week low of $30.29 and a fifty-two week high of $57.25. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.25.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. CarGurus had a net margin of 13.94% and a return on equity of 18.43%. The firm had revenue of $135.30 million for the quarter, compared to analysts’ expectations of $129.54 million. During the same period in the previous year, the business earned $0.06 earnings per share. CarGurus’s revenue for the quarter was up 37.2% compared to the same quarter last year. On average, sell-side analysts expect that CarGurus Inc will post 0.23 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. FMR LLC raised its position in CarGurus by 0.7% in the first quarter. FMR LLC now owns 10,915,766 shares of the company’s stock worth $437,286,000 after acquiring an additional 79,685 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in CarGurus by 4.1% in the first quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock worth $300,238,000 after acquiring an additional 295,775 shares in the last quarter. Hound Partners LLC raised its position in CarGurus by 61.5% in the fourth quarter. Hound Partners LLC now owns 5,532,298 shares of the company’s stock worth $186,604,000 after acquiring an additional 2,106,372 shares in the last quarter. BlackRock Inc. raised its position in CarGurus by 20.8% in the fourth quarter. BlackRock Inc. now owns 3,790,254 shares of the company’s stock worth $127,846,000 after acquiring an additional 651,931 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in CarGurus by 50.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 838,136 shares of the company’s stock worth $28,270,000 after acquiring an additional 280,233 shares in the last quarter. Hedge funds and other institutional investors own 74.79% of the company’s stock.

Several equities research analysts recently weighed in on CARG shares. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. TheStreet raised shares of Third Point Reinsurance from a “d+” rating to a “c-” rating in a report on Tuesday, May 14th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday. DA Davidson set a $54.00 price objective on shares of CarGurus and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, SunTrust Banks reduced their price objective on shares of EOG Resources to $120.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. CarGurus has an average rating of “Buy” and an average price target of $48.92.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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

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