CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the sale, the chief executive officer now directly owns 129,790 shares of the company's stock, valued at $3,469,286.70. This represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CarGurus Price Performance
Shares of CARG opened at $27.00 on Wednesday. The firm has a 50-day moving average of $30.55 and a 200-day moving average of $34.02. The company has a market cap of $2.82 billion, a PE ratio of 150.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33.
CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $231.72 million. Analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.
Institutional Investors Weigh In On CarGurus
Several hedge funds have recently added to or reduced their stakes in CARG. Arrowstreet Capital Limited Partnership increased its holdings in shares of CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after purchasing an additional 957,035 shares during the last quarter. Wellington Management Group LLP grew its stake in CarGurus by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after buying an additional 802,602 shares during the last quarter. No Street GP LP bought a new position in CarGurus in the 4th quarter valued at about $25,578,000. Raymond James Financial Inc. acquired a new stake in CarGurus during the fourth quarter worth approximately $19,465,000. Finally, Oberweis Asset Management Inc. bought a new stake in shares of CarGurus during the fourth quarter worth approximately $18,270,000. Institutional investors and hedge funds own 86.90% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on CARG shares. UBS Group dropped their price target on CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. JMP Securities dropped their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. Oppenheimer lowered their price objective on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.14.
Get Our Latest Research Report on CARG
About CarGurus
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
