Samuel Zales Sells 17,668 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the sale, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, March 18th, Samuel Zales sold 17,668 shares of CarGurus stock. The shares were sold at an average price of $22.56, for a total value of $398,590.08.
• On Thursday, February 29th, Samuel Zales sold 17,668 shares of CarGurus stock. The shares were sold at an average price of $22.22, for a total value of $392,582.96.

CarGurus Trading Up 1.5 %

Shares of NASDAQ:CARG opened at $21.54 on Friday. CarGurus, Inc. has a 1-year low of $15.34 and a 1-year high of $24.64. The firm has a market capitalization of $2.31 billion, a PE ratio of 119.67, a PEG ratio of 1.32 and a beta of 1.58. The business’s 50 day moving average is $22.91 and its 200-day moving average is $21.74.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. CarGurus’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. On average, sell-side analysts predict that CarGurus, Inc. will post 0.94 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group raised their price objective on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research note on Wednesday. Oppenheimer raised their price objective on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Needham & Company LLC raised their price objective on CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $24.90.

Institutional Trading of CarGurus

Several institutional investors have recently bought and sold shares of CARG. BlackRock Inc. boosted its stake in CarGurus by 113.0% in the 2nd quarter. BlackRock Inc. now owns 14,824,129 shares of the company’s stock valued at $335,470,000 after buying an additional 7,863,827 shares in the last quarter. Wellington Management Group LLP boosted its stake in CarGurus by 30.4% in the first quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock worth $599,905,000 after purchasing an additional 3,294,532 shares in the last quarter. Durable Capital Partners LP acquired a new position in CarGurus in the fourth quarter worth $45,581,000. Morgan Stanley boosted its stake in CarGurus by 44.9% in the fourth quarter. Morgan Stanley now owns 6,112,679 shares of the company’s stock worth $85,639,000 after purchasing an additional 1,893,891 shares in the last quarter. Finally, State Street Corp boosted its stake in CarGurus by 59.8% in the second quarter. State Street Corp now owns 3,298,003 shares of the company’s stock worth $74,634,000 after purchasing an additional 1,234,099 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.