Insider Selling: CarGurus (NASDAQ:CARG) Insider Sells 1,964 Shares of Company Stock

Key Points

• CarGurus insider Ismail Elshareef sold 1,964 shares at an average price of $32.33, totaling about $63,496. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 123,670 shares.
• CarGurus reported quarterly EPS of $0.66, beating the $0.61 consensus, while revenue rose 7.2% year over year to $250.97 million. The company issued Q3 EPS guidance of $0.63–$0.69.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $39.95; shares traded at $33.77 in the session described.

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) insider Ismail Elshareef sold 1,964 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $32.33, for a total value of $63,496.12. Following the completion of the sale, the insider directly owned 123,670 shares of the company's stock, valued at approximately $3,998,251.10. The trade was a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 2nd, Ismail Elshareef sold 2,673 shares of CarGurus stock. The stock was sold at an average price of $29.62, for a total value of $79,174.26.

CarGurus Trading Down 0.1%

Shares of NASDAQ:CARG traded down $0.02 during trading on Tuesday, reaching $33.77. 1,211,852 shares of the stock were exchanged, compared to its average volume of 1,269,784. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $41.22. The stock has a 50-day moving average price of $32.29 and a 200-day moving average price of $32.83. The firm has a market cap of $3.01 billion, a PE ratio of 18.35, a PEG ratio of 1.11 and a beta of 1.22.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $249.85 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. CarGurus's quarterly revenue was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, sell-side analysts expect that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarGurus

Several large investors have recently bought and sold shares of the company. Congress Asset Management Co. increased its position in shares of CarGurus by 7.6% during the third quarter. Congress Asset Management Co. now owns 2,125,686 shares of the company's stock worth $66,236,000 after buying an additional 149,338 shares during the period. Bessemer Group Inc. boosted its position in CarGurus by 18.2% during the first quarter. Bessemer Group Inc. now owns 1,085,061 shares of the company's stock valued at $36,945,000 after acquiring an additional 166,954 shares during the last quarter. Bank of America Corp DE boosted its position in CarGurus by 26.6% during the first quarter. Bank of America Corp DE now owns 586,346 shares of the company's stock valued at $19,965,000 after acquiring an additional 123,364 shares during the last quarter. Principal Financial Group Inc. grew its holdings in CarGurus by 19.1% during the 1st quarter. Principal Financial Group Inc. now owns 573,406 shares of the company's stock worth $19,524,000 after acquiring an additional 91,755 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in CarGurus during the 2nd quarter worth about $15,631,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CARG. Needham & Company LLC upped their price objective on shares of CarGurus from $43.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Barclays cut their price target on shares of CarGurus from $41.00 to $38.00 and set an "overweight" rating for the company in a report on Tuesday, October 6th. Citigroup increased their price target on shares of CarGurus from $32.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. UBS Group decreased their price objective on shares of CarGurus from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. Finally, Wall Street Zen upgraded CarGurus from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, CarGurus presently has a consensus rating of "Moderate Buy" and an average price target of $39.95.

About CarGurus

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate vehicle and dealer information, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital listing, advertising and marketing products designed to help them reach potential buyers.

The company also offers tools intended to support automotive retailers' online operations, including inventory merchandising, lead generation and digital retailing capabilities.

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