Zachary Emerson Hallowell Sells 1,733 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Zachary Emerson Hallowell sold 1,733 shares of CarGurus stock in a transaction 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 directly owned 117,045 shares of the company's stock, valued at $3,960,802.80. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $33.09, for a total transaction of $144,570.21.

CarGurus Price Performance

Shares of NASDAQ:CARG traded up $0.08 during trading on Tuesday, hitting $33.30. 726,565 shares of the company were exchanged, compared to its average volume of 880,038. The stock has a market capitalization of $3.48 billion, a P/E ratio of 95.15, a PEG ratio of 1.63 and a beta of 1.44. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm's 50 day moving average price is $32.62 and its 200-day moving average price is $32.61.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly 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. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The firm had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same quarter in the prior year, the firm earned $0.32 EPS. CarGurus's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

CARG has been the subject of several research reports. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. Gordon Haskett began coverage on shares of CarGurus in a research report on Monday, July 14th. They issued a "hold" rating and a $35.00 price target for the company. Citigroup lowered their price target on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Finally, Needham & Company LLC lowered their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $37.63.

Hedge Funds Weigh In On CarGurus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of CarGurus by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after purchasing an additional 93,722 shares during the last quarter. Wellington Management Group LLP grew its position in shares of CarGurus by 12.7% in the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock valued at $234,560,000 after purchasing an additional 906,830 shares during the last quarter. Invesco Ltd. grew its position in shares of CarGurus by 340.5% in the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after purchasing an additional 1,242,076 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after purchasing an additional 957,035 shares during the last quarter. Finally, Prevatt Capital Ltd grew its position in shares of CarGurus by 3.7% in the first quarter. Prevatt Capital Ltd now owns 1,400,000 shares of the company's stock valued at $40,782,000 after purchasing an additional 50,000 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.