Samuel Zales Sells 10,000 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares of the company’s stock, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $360,963.34.

CarGurus Trading Down 0.1 %

Shares of NASDAQ:CARG opened at $29.91 on Thursday. The firm has a 50 day moving average of $35.98 and a 200-day moving average of $34.22. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The stock has a market capitalization of $3.12 billion, a PE ratio of 166.18, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last announced 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 net margin of 2.34% and a return on equity of 27.14%. The firm had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. On average, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Institutional Trading of CarGurus

Institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in CarGurus by 168.7% in the fourth 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 last quarter. Wellington Management Group LLP boosted its stake in shares of CarGurus by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock valued at $261,091,000 after purchasing an additional 802,602 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of CarGurus during the 3rd quarter valued at approximately $21,052,000. No Street GP LP acquired a new position in CarGurus during the 4th quarter worth approximately $25,578,000. Finally, Raymond James Financial Inc. bought a new position in CarGurus in the 4th quarter valued at approximately $19,465,000. 86.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CARG shares. JPMorgan Chase & Co. boosted their price target on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Finally, Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.55.

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.