CarGurus, Inc. (NASDAQ:CARG) Insider Ismail Elshareef Sells 1,325 Shares

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) insider Ismail Elshareef sold 1,325 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $46,375.00. Following the completion of the sale, the insider directly owned 104,322 shares of the company's stock, valued at approximately $3,651,270. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ismail Elshareef also recently made the following trade(s):

• On Wednesday, June 4th, Ismail Elshareef sold 5,246 shares of CarGurus stock. The shares were sold at an average price of $31.37, for a total transaction of $164,567.02.

CarGurus Price Performance

Shares of CarGurus stock traded up $0.09 on Monday, hitting $34.39. The company had a trading volume of 621,523 shares, compared to its average volume of 875,078. The business has a 50-day simple moving average of $32.11 and a 200-day simple moving average of $32.72. The company has a market cap of $3.59 billion, a PE ratio of 98.26, a PEG ratio of 1.68 and a beta of 1.44. 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 earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate 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 net margin of 4.28% and a return on equity of 32.54%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. On average, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CARG. BI Asset Management Fondsmaeglerselskab A S acquired a new position in CarGurus in the 1st quarter valued at approximately $46,000. GeoWealth Management LLC acquired a new position in CarGurus in the 4th quarter valued at approximately $49,000. Signaturefd LLC increased its stake in CarGurus by 83.9% in the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after buying an additional 799 shares during the period. Blue Trust Inc. increased its stake in CarGurus by 49.8% in the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after buying an additional 829 shares during the period. Finally, Versant Capital Management Inc increased its stake in CarGurus by 695.4% in the 1st quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after buying an additional 2,267 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

About CarGurus

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.

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