CarGurus, Inc. (NASDAQ:CARG) CTO Sells 3,789 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $125,378.01. Following the transaction, the chief technology officer directly owned 216,877 shares in the company, valued at approximately $7,176,459.93. The trade was a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CarGurus Stock Performance

CARG traded up $0.03 during trading on Thursday, reaching $33.68. The company had a trading volume of 410,699 shares, compared to its average volume of 870,636. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 96.22, a PEG ratio of 1.65 and a beta of 1.44. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm's 50-day simple moving average is $31.30 and its 200 day simple moving average is $32.91.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The business had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. During the same quarter in the previous year, the business earned $0.32 EPS. CarGurus's quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

Hedge Funds Weigh In On CarGurus

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of CarGurus in the 1st quarter valued at $46,000. GeoWealth Management LLC acquired a new stake in shares of CarGurus in the 4th quarter valued at $49,000. Signaturefd LLC increased its position in CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after purchasing an additional 799 shares during the period. Blue Trust Inc. raised its stake in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock worth $73,000 after buying an additional 829 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of CarGurus by 695.4% during the 1st quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after acquiring an additional 2,267 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JMP Securities reissued a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a research report on Wednesday. Citigroup cut their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday. Citizens Jmp lowered shares of CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday. UBS Group boosted their price target on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 price target on shares of CarGurus in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CarGurus presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.