Insider Selling: CarGurus Inc (CARG) COO Sells 15,000 Shares of Stock

CarGurus Inc (NASDAQ:CARG) COO Samuel Zales sold 15,000 shares of the stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $42.45, for a total value of $636,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Tuesday, September 11th, Samuel Zales sold 15,000 shares of CarGurus stock. The shares were sold at an average price of $51.01, for a total value of $765,150.00.
  • On Monday, August 13th, Samuel Zales sold 15,000 shares of CarGurus stock. The shares were sold at an average price of $51.31, for a total value of $769,650.00.

CarGurus stock traded up $0.87 during trading hours on Friday, reaching $42.86. 1,179,600 shares of the company’s stock were exchanged, compared to its average volume of 707,093. CarGurus Inc has a twelve month low of $25.85 and a twelve month high of $57.25. The company has a market cap of $6.10 billion and a P/E ratio of 355.58.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. CarGurus had a return on equity of 12.60% and a net margin of 10.34%. The firm had revenue of $110.33 million during the quarter, compared to the consensus estimate of $103.84 million. Analysts forecast that CarGurus Inc will post 0.1 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. First Interstate Bank grew its holdings in CarGurus by 100,560.0% during the 2nd quarter. First Interstate Bank now owns 5,033 shares of the company’s stock worth $175,000 after acquiring an additional 5,028 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in CarGurus during the 2nd quarter worth about $205,000. NEXT Financial Group Inc acquired a new stake in CarGurus during the 3rd quarter worth about $206,000. NumerixS Investment Technologies Inc acquired a new stake in CarGurus during the 2nd quarter worth about $227,000. Finally, Amalgamated Bank acquired a new stake in CarGurus during the 2nd quarter worth about $261,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

CARG has been the subject of a number of recent research reports. ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a report on Monday, August 13th. JMP Securities upgraded CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Wednesday, August 8th. Royal Bank of Canada upgraded CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a report on Wednesday, August 8th. Finally, Benchmark increased their price objective on CarGurus from $44.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.17.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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