Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 10,000 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, February 3rd, Samuel Zales sold 20,000 shares of CarGurus stock. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00.
• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The stock was sold at an average price of $36.62, for a total transaction of $360,963.34.

CarGurus Price Performance

CarGurus stock traded down $1.20 during trading hours on Tuesday, reaching $29.93. The stock had a trading volume of 1,097,708 shares, compared to its average volume of 774,434. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 166.29, a PEG ratio of 1.72 and a beta of 1.52. The business’s 50 day moving average price is $35.98 and its 200-day moving average price is $34.22. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. On average, sell-side analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its position in CarGurus by 243.3% in the 4th quarter. Mackenzie Financial Corp now owns 73,383 shares of the company’s stock worth $2,681,000 after purchasing an additional 52,006 shares in the last quarter. PharVision Advisers LLC purchased a new stake in CarGurus in the 4th quarter worth approximately $243,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CarGurus by 30.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,796 shares of the company’s stock worth $7,264,000 after purchasing an additional 46,298 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in CarGurus in the 4th quarter worth approximately $480,000. Finally, Tybourne Capital Management HK Ltd. lifted its position in shares of CarGurus by 165.4% during the 4th quarter. Tybourne Capital Management HK Ltd. now owns 265,346 shares of the company’s stock valued at $9,696,000 after buying an additional 165,365 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $39.55.

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.