CarGurus (NASDAQ:CARG) CEO Sells 1,100 Shares of Stock

Key Points

• CarGurus CEO Jason Trevisan sold 1,100 shares at an average price of $41.06, totaling $45,166, under a pre-arranged Rule 10b5-1 trading plan. He continues to own 674,762 shares.
• CarGurus exceeded quarterly expectations, reporting earnings of $0.66 per share versus the $0.61 consensus estimate and revenue of $250.97 million, up 7.2% year over year.
• Analysts raised several price targets, with the stock receiving a consensus “Moderate Buy” rating and an average target of $40.35. Shares recently traded at $36.18, down 3.8%.

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Jason Trevisan sold 1,100 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.06, for a total value of $45,166.00. Following the transaction, the chief executive officer owned 674,762 shares of the company's stock, valued at approximately $27,705,727.72. This represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Trading Down 3.8%

CARG traded down $1.41 on Tuesday, hitting $36.18. The company had a trading volume of 1,085,634 shares, compared to its average volume of 1,288,798. The firm has a market cap of $3.26 billion, a P/E ratio of 19.66, a PEG ratio of 1.42 and a beta of 1.17. CarGurus, Inc. has a 1 year low of $26.39 and a 1 year high of $41.22. The company's fifty day moving average price is $33.00 and its 200 day moving average price is $32.67.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The company had revenue of $250.97 million during the quarter, compared to analyst estimates of $249.85 million. During the same quarter last year, the firm posted $0.57 earnings per share. CarGurus's revenue was up 7.2% compared to the same quarter last year. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, analysts predict that CarGurus, Inc. will post 2.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of CarGurus from $35.00 to $42.00 and gave the company an "outperform" rating in a report on Friday. Barclays upped their price target on CarGurus from $40.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday. Needham & Company LLC lifted their price objective on CarGurus from $43.00 to $44.00 and gave the company a "buy" rating in a research note on Friday. BTIG Research raised their target price on CarGurus from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday. Finally, Piper Sandler reaffirmed a "sector weight" rating on shares of CarGurus in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.35.

Institutional Trading of CarGurus

A number of large investors have recently modified their holdings of CARG. Brown Brothers Harriman & Co. acquired a new stake in shares of CarGurus in the third quarter valued at $46,000. Torren Management LLC purchased a new stake in CarGurus during the 4th quarter worth about $49,000. EverSource Wealth Advisors LLC increased its holdings in CarGurus by 491.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company's stock worth $55,000 after purchasing an additional 1,362 shares during the period. Clearstead Advisors LLC raised its position in CarGurus by 321.2% in the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company's stock valued at $82,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in CarGurus by 356.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company's stock valued at $83,000 after purchasing an additional 1,697 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company's core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source