CarGurus Inc (NASDAQ:CARG) CEO Sells $600,034.89 in Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 24,011 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $24.99, for a total transaction of $600,034.89. Following the transaction, the chief executive officer now directly owns 727,185 shares of the company’s stock, valued at $18,172,353.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Monday, July 27th, Langley Steinert sold 46,267 shares of CarGurus stock. The shares were sold at an average price of $25.20, for a total transaction of $1,165,928.40.
  • On Wednesday, July 22nd, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $24.65, for a total transaction of $295,947.90.
  • On Monday, July 20th, Langley Steinert sold 16,377 shares of CarGurus stock. The shares were sold at an average price of $24.77, for a total transaction of $405,658.29.
  • On Friday, July 17th, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $24.24, for a total transaction of $291,025.44.
  • On Wednesday, July 15th, Langley Steinert sold 39,478 shares of CarGurus stock. The shares were sold at an average price of $24.67, for a total transaction of $973,922.26.
  • On Monday, July 13th, Langley Steinert sold 24,011 shares of CarGurus stock. The shares were sold at an average price of $26.31, for a total transaction of $631,729.41.
  • On Thursday, July 9th, Langley Steinert sold 24,011 shares of CarGurus stock. The shares were sold at an average price of $26.99, for a total transaction of $648,056.89.
  • On Tuesday, July 7th, Langley Steinert sold 51,970 shares of CarGurus stock. The shares were sold at an average price of $26.62, for a total transaction of $1,383,441.40.
  • On Thursday, July 2nd, Langley Steinert sold 51,970 shares of CarGurus stock. The shares were sold at an average price of $26.12, for a total transaction of $1,357,456.40.
  • On Friday, June 19th, Langley Steinert sold 24,011 shares of CarGurus stock. The shares were sold at an average price of $27.21, for a total transaction of $653,339.31.

CARG stock opened at $27.93 on Friday. CarGurus Inc has a one year low of $14.25 and a one year high of $40.91. The company’s fifty day moving average price is $25.79 and its 200-day moving average price is $25.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.60 and a current ratio of 3.60. The company has a market capitalization of $3.15 billion, a PE ratio of 75.49, a price-to-earnings-growth ratio of 6.60 and a beta of 2.02.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.07 by $0.12. CarGurus had a net margin of 6.91% and a return on equity of 16.97%. The firm had revenue of $157.70 million for the quarter, compared to the consensus estimate of $150.06 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts predict that CarGurus Inc will post 0.12 EPS for the current fiscal year.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, July 13th. DA Davidson restated a “buy” rating and set a $31.00 target price on shares of CarGurus in a research report on Monday, June 1st. SunTrust Banks upped their price target on shares of CarGurus from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Citigroup lowered shares of CarGurus from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Monday, May 11th. Finally, Piper Sandler assumed coverage on shares of CarGurus in a research report on Monday. They issued a “neutral” rating and a $27.00 price target for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.40.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in shares of CarGurus by 181.2% in the first quarter. Morgan Stanley now owns 1,125,727 shares of the company’s stock worth $21,322,000 after buying an additional 725,384 shares in the last quarter. Norges Bank purchased a new position in shares of CarGurus in the fourth quarter worth $16,632,000. JPMorgan Chase & Co. raised its stake in CarGurus by 1,272.0% during the first quarter. JPMorgan Chase & Co. now owns 405,870 shares of the company’s stock valued at $7,686,000 after purchasing an additional 376,287 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in CarGurus during the first quarter valued at $3,917,000. Finally, Squarepoint Ops LLC purchased a new stake in CarGurus during the first quarter valued at $1,049,000. 76.86% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Company Profile

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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Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

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