Javier Zamora Sells 6,205 Shares of CarGurus (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) General Counsel Javier Zamora sold 6,205 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $37.08, for a total transaction of $230,081.40. Following the completion of the transaction, the general counsel owned 80,260 shares in the company, valued at approximately $2,976,040.80. This represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Javier Zamora also recently made the following trade(s):

• On Thursday, July 2nd, Javier Zamora sold 3,533 shares of CarGurus stock. The stock was sold at an average price of $36.06, for a total transaction of $127,399.98.
• On Monday, June 29th, Javier Zamora sold 3,532 shares of CarGurus stock. The stock was sold at an average price of $34.08, for a total transaction of $120,370.56.
• On Friday, June 26th, Javier Zamora sold 3,532 shares of CarGurus stock. The shares were sold at an average price of $32.63, for a total transaction of $115,249.16.
• On Monday, June 1st, Javier Zamora sold 8,072 shares of CarGurus stock. The shares were sold at an average price of $29.53, for a total transaction of $238,366.16.

CarGurus Stock Down 1.6%

Shares of CARG stock opened at $36.41 on Thursday. CarGurus, Inc. has a 12-month low of $26.39 and a 12-month high of $39.42. The company has a market capitalization of $3.28 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17. The firm has a 50 day moving average price of $32.54 and a two-hundred day moving average price of $32.59.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, May 7th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $243.56 million for the quarter, compared to the consensus estimate of $243.10 million. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, research analysts expect that CarGurus, Inc. will post 2.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CARG. Needham & Company LLC upped their price objective on CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Piper Sandler restated a “sector weight” rating on shares of CarGurus in a research note on Friday, June 12th. Citigroup assumed coverage on shares of CarGurus in a research report on Friday, June 12th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada lifted their price objective on shares of CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.55.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Horizon Investments LLC grew its position in shares of CarGurus by 2.0% in the 4th quarter. Horizon Investments LLC now owns 16,375 shares of the company’s stock valued at $628,000 after buying an additional 318 shares during the last quarter. ProShare Advisors LLC raised its position in shares of CarGurus by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 15,992 shares of the company’s stock worth $613,000 after acquiring an additional 436 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of CarGurus by 4.2% in the first quarter. Ritholtz Wealth Management now owns 11,039 shares of the company’s stock worth $376,000 after acquiring an additional 449 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of CarGurus by 1.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 24,318 shares of the company’s stock worth $829,000 after acquiring an additional 459 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in CarGurus by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 7,094 shares of the company’s stock valued at $272,000 after acquiring an additional 514 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.