CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales Sells 10,000 Shares

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) COO Samuel Zales sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $33.88, for a total value of $338,800.00. Following the sale, the chief operating officer owned 461,821 shares of the company's stock, valued at $15,646,495.48. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Samuel Zales also recently made the following trade(s):

• On Friday, May 2nd, Samuel Zales sold 10,000 shares of CarGurus stock. The stock was sold at an average price of $28.29, for a total transaction of $282,900.00.

CarGurus Stock Up 0.2%

Shares of CARG traded up $0.08 during trading hours on Tuesday, reaching $33.30. The stock had a trading volume of 726,565 shares, compared to its average volume of 880,038. The firm has a 50-day moving average of $32.62 and a 200 day moving average of $32.61. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33. The company has a market cap of $3.48 billion, a P/E ratio of 95.15, a P/E/G ratio of 1.63 and a beta of 1.44.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. CarGurus's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. As a group, equities analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CARG shares. JMP Securities reissued a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Citigroup dropped their price objective on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. UBS Group boosted their price target on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Citizens Jmp downgraded CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarGurus currently has an average rating of "Hold" and an average target price of $37.63.

Institutional Investors Weigh In On CarGurus

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of CarGurus by 340.5% during the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after acquiring an additional 1,242,076 shares during the period. American Century Companies Inc. increased its stake in shares of CarGurus by 547.9% in the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock valued at $40,734,000 after purchasing an additional 1,182,499 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after buying an additional 957,035 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 buying an additional 906,830 shares in the last quarter. Finally, Boston Partners grew its position in CarGurus by 1,641.2% in the first quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after acquiring an additional 828,099 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

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.