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

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

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 Trading Down 1.0%

Shares of CarGurus stock traded down $0.32 during trading on Friday, reaching $33.16. The company's stock had a trading volume of 751,130 shares, compared to its average volume of 879,301. The stock has a 50-day moving average price of $32.62 and a two-hundred day moving average price of $32.64. The stock has a market capitalization of $3.46 billion, a P/E ratio of 94.75, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last released its 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 return on equity of 32.54% and a net margin of 4.28%. The firm had revenue of $225.16 million for the quarter, compared to analysts' expectations of $226.72 million. During the same quarter in the previous year, the business posted $0.32 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. JMP Securities restated a "market perform" rating and set a $38.00 target price on shares of CarGurus in a research report on Wednesday, July 2nd. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, Gordon Haskett began coverage on shares of CarGurus in a research report on Monday, July 14th. They set a "hold" rating and a $35.00 target price for the company. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $37.63.

Hedge Funds Weigh In On CarGurus

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in CarGurus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock worth $14,055,000 after buying an additional 10,787 shares in the last quarter. Summit Global Investments purchased a new position in shares of CarGurus during the 4th quarter valued at $1,150,000. Scalar Gauge Management LLC purchased a new position in shares of CarGurus during the 4th quarter valued at $4,019,000. GAMMA Investing LLC raised its stake in shares of CarGurus by 35.4% during the 1st quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after purchasing an additional 1,097 shares during the period. Finally, Bosman Wealth Management LLC bought a new stake in shares of CarGurus during the 1st quarter valued at $2,638,000. 86.90% of the stock is currently owned by institutional investors.

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.