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 stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now directly owns 390,025 shares of the company’s stock, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 3rd, Samuel Zales sold 20,000 shares of CarGurus stock. The shares were sold at an average price of $38.36, for a total value 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 3.9 %

Shares of NASDAQ:CARG traded down $1.20 on Tuesday, hitting $29.93. The company had a trading volume of 1,097,708 shares, compared to its average volume of 774,434. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The business has a 50 day moving average of $35.98 and a 200 day moving average of $34.22. The company has a market cap of $3.13 billion, a PE ratio of 166.29, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share 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 business had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. As a group, equities analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On CarGurus

A number of large investors have recently modified their holdings of CARG. Atria Investments Inc purchased a new stake in shares of CarGurus during the 3rd quarter valued at about $247,000. Victory Capital Management Inc. raised its holdings in shares of CarGurus by 45.5% during the 3rd quarter. Victory Capital Management Inc. now owns 94,939 shares of the company’s stock valued at $2,851,000 after buying an additional 29,674 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of CarGurus during the 3rd quarter valued at about $608,000. KBC Group NV raised its holdings in shares of CarGurus by 34.0% during the 3rd quarter. KBC Group NV now owns 3,397 shares of the company’s stock valued at $102,000 after buying an additional 862 shares during the period. Finally, Natixis Advisors LLC raised its holdings in shares of CarGurus by 46.6% during the 3rd quarter. Natixis Advisors LLC now owns 23,248 shares of the company’s stock valued at $698,000 after buying an additional 7,393 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Company Profile

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.