CarGurus, Inc. (NASDAQ:CARG) COO Sells 10,000 Shares

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) COO Samuel Zales sold 10,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the sale, the chief operating officer now owns 390,025 shares of the company's stock, valued at $12,004,969.50. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, February 3rd, Samuel Zales sold 20,000 shares of CarGurus stock. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00.
• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34.

CarGurus Stock Performance

CARG stock traded up $0.24 during trading on Friday, reaching $30.11. The company had a trading volume of 2,002,591 shares, compared to its average volume of 781,626. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 167.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The firm has a 50-day simple moving average of $35.58 and a 200-day simple moving average of $34.17.

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CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. Sell-side analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CARG shares. 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 report on Monday, February 24th. JMP Securities restated a "market outperform" rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. JPMorgan Chase & Co. lifted their target price on CarGurus from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $39.55.

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC boosted its position in CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp lifted 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 acquiring an additional 456 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in CarGurus in the 3rd quarter valued at $28,000. Principal Securities Inc. boosted its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in shares of CarGurus during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.90% of the company's stock.

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.