CarGurus, Inc. (NASDAQ:CARG) Insider Sells $164,567.02 in Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) insider Ismail Elshareef sold 5,246 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $164,567.02. Following the completion of the sale, the insider now owns 107,007 shares in the company, valued at approximately $3,356,809.59. This trade represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CarGurus Stock Performance

Shares of CARG traded up $0.19 on Friday, reaching $31.94. The stock had a trading volume of 197,904 shares, compared to its average volume of 874,312. The company has a 50-day simple moving average of $29.24 and a 200-day simple moving average of $33.54. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 177.49, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of CARG. Louisiana State Employees Retirement System grew its stake in shares of CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after acquiring an additional 300 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of CarGurus by 4.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after buying an additional 423 shares during the period. Principal Securities Inc. lifted its position in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares during the period. QRG Capital Management Inc. grew its stake in CarGurus by 6.6% during the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock valued at $281,000 after purchasing an additional 475 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of CarGurus by 14.6% in the first quarter. US Bancorp DE now owns 3,733 shares of the company's stock worth $109,000 after purchasing an additional 475 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Oppenheimer cut their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Needham & Company LLC dropped 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. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. JMP Securities reduced their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.95.

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.