Insider Selling: CarGurus Inc (NASDAQ:CARG) CEO Sells 117,406 Shares of Stock

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CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction on Friday, September 6th. The shares were sold at an average price of $33.15, for a total transaction of $3,892,008.90.

Langley Steinert also recently made the following trade(s):

  • On Wednesday, September 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $32.03, for a total transaction of $3,760,514.18.
  • On Thursday, August 8th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $32.79, for a total transaction of $3,849,742.74.
  • On Tuesday, August 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $33.83, for a total transaction of $3,971,844.98.
  • On Friday, August 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $36.69, for a total value of $4,307,626.14.
  • On Wednesday, July 10th, Langley Steinert sold 130,456 shares of CarGurus stock. The stock was sold at an average price of $36.36, for a total value of $4,743,380.16.
  • On Friday, July 5th, Langley Steinert sold 58,703 shares of CarGurus stock. The stock was sold at an average price of $36.01, for a total value of $2,113,895.03.
  • On Wednesday, July 3rd, Langley Steinert sold 176,109 shares of CarGurus stock. The stock was sold at an average price of $36.05, for a total value of $6,348,729.45.

Shares of CARG stock opened at $35.72 on Thursday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $4.48 billion, a P/E ratio of 62.67, a price-to-earnings-growth ratio of 3.33 and a beta of 1.88. The firm’s fifty day simple moving average is $33.42 and its 200 day simple moving average is $36.78. CarGurus Inc has a 1 year low of $30.22 and a 1 year high of $57.25.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $145.03 million for the quarter, compared to analysts’ expectations of $140.67 million. CarGurus had a return on equity of 17.12% and a net margin of 8.22%. CarGurus’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 earnings per share. Equities research analysts anticipate that CarGurus Inc will post 0.28 EPS for the current fiscal year.

A number of research analysts recently weighed in on CARG shares. Cowen began coverage on CarGurus in a research note on Monday, May 20th. They issued a “market perform” rating and a $42.00 price objective on the stock. BidaskClub raised CarGurus from a “sell” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks reiterated a “buy” rating and set a $54.00 price target on shares of CarGurus in a report on Wednesday, June 12th. Zacks Investment Research upgraded CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a report on Friday, August 9th. Finally, Consumer Edge assumed coverage on shares of CarGurus in a research report on Friday, August 2nd. They issued an “overweight” rating on the stock. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. CarGurus presently has a consensus rating of “Buy” and a consensus target price of $48.42.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. boosted its stake in CarGurus by 55.1% in the 2nd quarter. Advisor Group Inc. now owns 1,194 shares of the company’s stock valued at $42,000 after buying an additional 424 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of CarGurus by 2,651.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,284 shares of the company’s stock worth $82,000 after purchasing an additional 2,201 shares during the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of CarGurus during the 2nd quarter worth about $90,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of CarGurus during the 1st quarter worth about $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CarGurus during the 2nd quarter worth about $145,000. 66.59% of the stock is owned by institutional investors and hedge funds.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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