CarGurus, Inc. (NASDAQ:CARG) General Counsel Javier Esquivel Zamora Sells 12,265 Shares

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) General Counsel Javier Esquivel Zamora sold 12,265 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $384,753.05. Following the completion of the sale, the general counsel now owns 102,723 shares in the company, valued at approximately $3,222,420.51. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CarGurus Stock Up 0.6%

NASDAQ CARG traded up $0.19 during midday trading on Friday, hitting $31.94. The company had a trading volume of 197,904 shares, compared to its average volume of 874,312. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 177.49, a P/E/G ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33. The firm has a fifty day simple moving average of $29.24 and a two-hundred day simple moving average of $33.54.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Needham & Company LLC lowered their price objective on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a research note on Monday, May 12th. Oppenheimer cut their price objective on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, UBS Group boosted their target price on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CarGurus currently has an average rating of "Moderate Buy" and an average price target of $36.95.

Institutional Investors Weigh In On CarGurus

A number of institutional investors have recently modified their holdings of CARG. Vanguard Group Inc. raised 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 period. Wellington Management Group LLP increased its position in shares of CarGurus by 12.7% during the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock valued at $234,560,000 after acquiring an additional 906,830 shares in the last quarter. Invesco Ltd. boosted its stake in shares of CarGurus by 340.5% in the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock worth $46,808,000 after buying an additional 1,242,076 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position 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 valued at $55,704,000 after acquiring an additional 957,035 shares during the period. Finally, Prevatt Capital Ltd increased its stake in CarGurus by 3.7% in the 1st quarter. Prevatt Capital Ltd now owns 1,400,000 shares of the company's stock worth $40,782,000 after buying an additional 50,000 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

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.