Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 17,668 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the sale, the chief operating officer now owns 548,845 shares in the company, valued at $11,756,259.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 18th, Samuel Zales sold 17,668 shares of CarGurus stock. The stock was sold at an average price of $22.56, for a total transaction of $398,590.08.
• On Thursday, February 29th, Samuel Zales sold 17,668 shares of CarGurus stock. The stock was sold at an average price of $22.22, for a total transaction of $392,582.96.

CarGurus Price Performance

Shares of CARG stock traded down $0.37 during trading hours on Wednesday, reaching $21.22. The company had a trading volume of 642,120 shares, compared to its average volume of 1,015,364. The business has a fifty day simple moving average of $22.98 and a 200-day simple moving average of $21.75. CarGurus, Inc. has a 12 month low of $15.34 and a 12 month high of $24.64. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 118.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.58.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The firm's quarterly revenue was down 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts expect that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On CarGurus

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates raised its position in shares of CarGurus by 12.0% in the fourth quarter. Raymond James & Associates now owns 452,182 shares of the company's stock worth $10,925,000 after buying an additional 48,389 shares in the last quarter. Pacer Advisors Inc. raised its position in CarGurus by 20.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company's stock valued at $48,164,000 after purchasing an additional 336,245 shares in the last quarter. Cullinan Associates Inc. purchased a new stake in CarGurus during the fourth quarter valued at about $1,377,000. Nordea Investment Management AB raised its position in CarGurus by 42.0% during the fourth quarter. Nordea Investment Management AB now owns 309,651 shares of the company's stock valued at $7,503,000 after purchasing an additional 91,626 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in CarGurus during the third quarter valued at about $1,586,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group raised their price target on shares of CarGurus from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, March 15th. Oppenheimer lifted their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. Needham & Company LLC lifted their price objective on shares of CarGurus from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, JMP Securities reiterated a "market perform" rating on shares of CarGurus in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, CarGurus presently has an average rating of "Moderate Buy" and a consensus target price of $24.90.

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.

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