CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales Sells 10,000 Shares

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, February 3rd, Samuel Zales sold 20,000 shares of CarGurus stock. The stock was 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 stock was sold at an average price of $36.62, for a total value of $360,963.34.

CarGurus Stock Performance

NASDAQ CARG opened at $29.93 on Wednesday. The business’s 50 day moving average price is $35.98 and its 200-day moving average price is $34.22. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The company has a market cap of $3.13 billion, a P/E ratio of 166.29, a P/E/G ratio of 1.72 and a beta of 1.52.

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

Analysts Set New Price Targets

CARG has been the topic of several recent analyst reports. Oppenheimer reduced their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. boosted their price target on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $39.55.

Institutional Trading of CarGurus

Institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in shares of CarGurus by 243.3% in the fourth quarter. Mackenzie Financial Corp now owns 73,383 shares of the company’s stock worth $2,681,000 after purchasing an additional 52,006 shares during the last quarter. PharVision Advisers LLC purchased a new stake in CarGurus in the 4th quarter valued at about $243,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CarGurus by 30.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,796 shares of the company’s stock worth $7,264,000 after acquiring an additional 46,298 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of CarGurus during the fourth quarter worth approximately $480,000. Finally, Tybourne Capital Management HK Ltd. raised its stake in shares of CarGurus by 165.4% during the fourth quarter. Tybourne Capital Management HK Ltd. now owns 265,346 shares of the company’s stock valued at $9,696,000 after acquiring an additional 165,365 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

About CarGurus

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.