Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CTO Sells $102,857.85 in Stock

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now owns 205,696 shares in the company, valued at approximately $6,053,633.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CarGurus Price Performance

NASDAQ:CARG opened at $29.29 on Friday. The company’s 50-day moving average is $27.76 and its two-hundred day moving average is $25.38. CarGurus, Inc. has a 1-year low of $16.70 and a 1-year high of $30.99. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 104.61, a PEG ratio of 1.45 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. As a group, equities analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarGurus

Several large investors have recently modified their holdings of the business. CWM LLC raised its stake in shares of CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares during the period. Nisa Investment Advisors LLC increased its holdings in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC raised its position in CarGurus by 25.9% in the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after purchasing an additional 425 shares during the period. Headlands Technologies LLC acquired a new position in CarGurus during the first quarter worth $49,000. Finally, Point72 DIFC Ltd acquired a new position in CarGurus during the second quarter worth $87,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer raised their target price on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. B. Riley increased their target price on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. BTIG Research upped their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, DA Davidson reissued a “neutral” rating and issued a $26.50 target price on shares of CarGurus in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.35.

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.