CarGurus, Inc. (NASDAQ:CARG) General Counsel Sells $215,390.00 in Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) General Counsel Javier Zamora sold 6,154 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the sale, the general counsel owned 92,807 shares of the company's stock, valued at approximately $3,248,245. This represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CarGurus Stock Performance

CARG stock traded down $0.33 during midday trading on Thursday, reaching $33.48. The stock had a trading volume of 768,284 shares, compared to its average volume of 877,149. The stock has a market cap of $3.50 billion, a PE ratio of 95.66, a P/E/G ratio of 1.66 and a beta of 1.44. The firm has a fifty day simple moving average of $32.58 and a two-hundred day simple moving average of $32.70. CarGurus, Inc. has a 52-week low of $21.65 and a 52-week high of $41.33.

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

Hedge Funds Weigh In On CarGurus

A number of institutional investors have recently modified their holdings of CARG. Invesco Ltd. raised its stake in shares of CarGurus by 340.5% during the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after buying an additional 1,242,076 shares during the last quarter. American Century Companies Inc. raised its stake in shares of CarGurus by 547.9% during the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock valued at $40,734,000 after buying an additional 1,182,499 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after buying an additional 957,035 shares during the last quarter. Wellington Management Group LLP grew its position in shares of CarGurus by 12.7% during the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock valued at $234,560,000 after acquiring an additional 906,830 shares during the period. Finally, Boston Partners grew its position in shares of CarGurus by 1,641.2% during the 1st quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after acquiring an additional 828,099 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CARG shares. JMP Securities restated a "market perform" rating and set a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. UBS Group increased their price objective on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Citigroup decreased their price objective on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered CarGurus from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CarGurus currently has an average rating of "Hold" and a consensus target price of $37.63.

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.