Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 17,668 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at approximately $11,756,259.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, March 18th, Samuel Zales sold 17,668 shares of CarGurus stock. The stock was sold at an average price of $22.56, for a total value of $398,590.08.
• On Thursday, February 29th, Samuel Zales sold 17,668 shares of CarGurus stock. The stock was sold at an average price of $22.22, for a total value of $392,582.96.

CarGurus Trading Up 3.1 %

Shares of CARG stock opened at $22.20 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 123.33, a PEG ratio of 1.29 and a beta of 1.58. The stock has a 50-day moving average of $22.87 and a 200-day moving average of $21.78. CarGurus, Inc. has a 1-year low of $15.34 and a 1-year high of $24.64.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company had revenue of $223.12 million during the quarter, compared to analysts’ expectations of $220.05 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was down 22.2% on a year-over-year basis. Sell-side analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CARG. UBS Group upped their target price on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Oppenheimer upped their target price on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a report on Wednesday. Finally, Needham & Company LLC upped their target price on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.90.

Institutional Investors Weigh In On CarGurus

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of CarGurus by 0.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 295,634 shares of the company’s stock valued at $6,823,000 after purchasing an additional 1,904 shares in the last quarter. Scharf Investments LLC bought a new stake in shares of CarGurus during the 1st quarter valued at about $203,000. Nomura Holdings Inc. bought a new stake in shares of CarGurus during the 4th quarter valued at about $412,000. PNC Financial Services Group Inc. boosted its holdings in CarGurus by 87.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock worth $133,000 after acquiring an additional 2,568 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in CarGurus by 39.6% in the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after acquiring an additional 1,619,076 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

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.