Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CEO Sells 1,733 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Zachary Emerson Hallowell sold 1,733 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $33.84, for a total transaction of $58,644.72. Following the completion of the transaction, the chief executive officer owned 117,045 shares of the company's stock, valued at approximately $3,960,802.80. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Zachary Emerson Hallowell also recently made the following trade(s):

• On Wednesday, July 2nd, Zachary Emerson Hallowell sold 4,369 shares of CarGurus stock. The shares were sold at an average price of $33.09, for a total transaction of $144,570.21.

CarGurus Price Performance

Shares of CARG traded down $0.32 during mid-day trading on Friday, reaching $33.16. 751,130 shares of the company's stock were exchanged, compared to its average volume of 876,647. The stock has a market capitalization of $3.46 billion, a PE ratio of 94.75, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The business's fifty day simple moving average is $32.58 and its 200-day simple moving average is $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 issued its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The firm had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same period last year, the company earned $0.32 earnings per share. The company's revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Institutional Investors Weigh In On CarGurus

Hedge funds and other institutional investors have recently bought and sold shares of the business. GeoWealth Management LLC acquired a new stake in CarGurus in the fourth quarter valued at $49,000. Fifth Third Bancorp lifted its holdings in CarGurus by 121.7% in the second quarter. Fifth Third Bancorp now owns 1,419 shares of the company's stock valued at $47,000 after acquiring an additional 779 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in CarGurus in the first quarter valued at $46,000. Signaturefd LLC lifted its holdings in CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after acquiring an additional 799 shares during the period. Finally, Blue Trust Inc. lifted its holdings in CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after acquiring an additional 829 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CARG shares. Gordon Haskett started coverage on shares of CarGurus in a research note on Monday. They issued a "hold" rating and a $35.00 target price on the stock. Citizens Jmp downgraded shares of CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. UBS Group raised their price target on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $37.63.

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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