CarGurus, Inc. (NASDAQ:CARG) CEO Sells $144,570.21 in Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Zachary Emerson Hallowell sold 4,369 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $144,570.21. Following the completion of the sale, the chief executive officer owned 121,584 shares of the company's stock, valued at $4,023,214.56. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, April 17th, Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock. The stock was sold at an average price of $26.73, for a total value of $48,755.52.

CarGurus Price Performance

NASDAQ:CARG traded up $0.03 during midday trading on Friday, hitting $33.68. The company's stock had a trading volume of 410,699 shares, compared to its average volume of 868,761. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33. The firm's 50 day moving average is $31.52 and its 200-day moving average is $32.85. The firm has a market cap of $3.52 billion, a P/E ratio of 96.22, a P/E/G ratio of 1.65 and a beta of 1.44.

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 net margin of 4.28% and a return on equity of 32.54%. The company had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. During the same quarter in the prior year, the company earned $0.32 EPS. CarGurus's quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently bought and sold shares of CARG. Summit Investment Advisors Inc. boosted its position in CarGurus by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after purchasing an additional 423 shares in the last quarter. QRG Capital Management Inc. boosted its position in CarGurus by 6.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock worth $281,000 after purchasing an additional 475 shares in the last quarter. US Bancorp DE boosted its position in CarGurus by 14.6% in the 1st quarter. US Bancorp DE now owns 3,733 shares of the company's stock worth $109,000 after purchasing an additional 475 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CarGurus by 0.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company's stock worth $2,300,000 after purchasing an additional 483 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in CarGurus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 133,450 shares of the company's stock worth $4,876,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research note on Monday, May 12th. Citizens Jmp downgraded shares of CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday. JMP Securities restated a "market perform" rating and set a $38.00 price objective on shares of CarGurus in a report on Wednesday. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Finally, UBS Group upped their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.86.

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.