Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CEO Sells 1,824 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the sale, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

CarGurus Trading Up 2.9 %

Shares of CARG traded up $0.76 during trading hours on Tuesday, reaching $27.00. 959,736 shares of the stock traded hands, compared to its average volume of 859,188. The company's 50-day moving average price is $30.55 and its two-hundred day moving average price is $34.02. 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 $2.82 billion, a P/E ratio of 150.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $228.54 million for the quarter, compared to analysts' expectations of $231.72 million. On average, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

CARG has been the topic of several research analyst reports. JMP Securities cut their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. UBS Group reduced their price target on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, Oppenheimer dropped their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.14.

Hedge Funds Weigh In On CarGurus

Institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in CarGurus by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after purchasing an additional 300 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in CarGurus by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after purchasing an additional 423 shares during the period. Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after buying an additional 424 shares in the last quarter. Fifth Third Bancorp grew its position in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after purchasing an additional 456 shares during the period. Finally, QRG Capital Management Inc. increased 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 worth $281,000 after buying an additional 475 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other 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.

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