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 CarGurus stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $46,375.00. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $164,567.02.

CarGurus Stock Performance

CARG stock traded down $0.33 on Thursday, hitting $33.48. 768,284 shares of the company's stock were exchanged, compared to its average volume of 877,149. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm has a 50 day moving average price of $32.58 and a two-hundred day moving average price of $32.70. The stock has a market cap of $3.50 billion, a P/E ratio of 95.66, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

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

Institutional Trading of CarGurus

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in CarGurus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock valued at $14,055,000 after purchasing an additional 10,787 shares during the last quarter. Summit Global Investments purchased a new stake in CarGurus during the 4th quarter valued at about $1,150,000. Scalar Gauge Management LLC purchased a new stake in CarGurus during the 4th quarter valued at about $4,019,000. GAMMA Investing LLC grew its stake in CarGurus by 35.4% during the 1st quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after purchasing an additional 1,097 shares during the last quarter. Finally, Bosman Wealth Management LLC purchased a new stake in shares of CarGurus in the first quarter worth about $2,638,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CARG. Gordon Haskett began coverage on CarGurus in a report on Monday. They issued a "hold" rating and a $35.00 price target on the stock. UBS Group lifted their price target on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Needham & Company LLC cut their price target on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Citigroup cut their price target on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and cut their price target for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.