CarGurus (NASDAQ:CARG) Stock: Insider Samuel Zales Sells 10,000 Shares

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $32.33, for a total value of $323,300.00. Following the transaction, the chief operating officer owned 419,735 shares of the company’s stock, valued at $13,570,032.55. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 15th, Samuel Zales sold 10,000 shares of CarGurus stock. The stock was sold at an average price of $30.31, for a total value of $303,100.00.
• On Tuesday, September 15th, Samuel Zales sold 10,000 shares of CarGurus stock. The stock was sold at an average price of $34.62, for a total value of $346,200.00.
• On Friday, August 28th, Samuel Zales sold 10,000 shares of CarGurus stock. The stock was sold at an average price of $36.50, for a total value of $365,000.00.

CarGurus Stock Up 8.1%

CARG opened at $36.52 on Thursday. The business has a fifty day moving average of $32.22 and a 200 day moving average of $32.84. CarGurus, Inc. has a 52-week low of $26.39 and a 52-week high of $41.22. The stock has a market cap of $3.25 billion, a P/E ratio of 19.85, a PEG ratio of 1.20 and a beta of 1.22.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CarGurus had a return on equity of 62.88% and a net margin of 18.06%. The business had revenue of $250.97 million for the quarter, compared to analyst estimates of $249.85 million. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that CarGurus, Inc. will post 2.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CARG shares. B. Riley Financial reiterated a “buy” rating on shares of CarGurus in a report on Friday, August 7th. UBS Group dropped their target price on shares of CarGurus from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Oppenheimer raised their target price on shares of CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Barclays decreased their price target on shares of CarGurus from $41.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Finally, BTIG Research boosted their price target on CarGurus from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.95.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gen Wealth Partners Inc acquired a new position in CarGurus in the 3rd quarter worth approximately $31,000. Public Employees Retirement System of Ohio acquired a new stake in CarGurus during the 2nd quarter valued at approximately $43,000. Farther Finance Advisors LLC lifted its stake in CarGurus by 107.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,531 shares of the company’s stock valued at $48,000 after acquiring an additional 793 shares during the period. Signaturefd LLC lifted its stake in CarGurus by 59.6% during the 3rd quarter. Signaturefd LLC now owns 1,953 shares of the company’s stock valued at $61,000 after acquiring an additional 729 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of CarGurus by 356.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock valued at $83,000 after acquiring an additional 1,697 shares during 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 marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate vehicle and dealer information, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital listing, advertising and marketing products designed to help them reach potential buyers.

The company also offers tools intended to support automotive retailers’ online operations, including inventory merchandising, lead generation and digital retailing capabilities.