CarGurus, Inc. (NASDAQ:CARG) Chairman Langley Steinert Sells 13,994 Shares

CarGurus, Inc. (NASDAQ:CARG) Chairman Langley Steinert sold 13,994 shares of the business’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $25.09, for a total transaction of $351,109.46. Following the sale, the chairman now owns 1,351,475 shares in the company, valued at $33,908,507.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CARG traded up $0.31 on Wednesday, reaching $24.76. 975,553 shares of the company traded hands, compared to its average volume of 1,204,970. The stock’s 50 day moving average price is $24.78 and its 200-day moving average price is $26.81. CarGurus, Inc. has a 52-week low of $18.94 and a 52-week high of $36.54. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 1.65 and a beta of 1.99.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Wednesday, February 10th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.13. CarGurus had a net margin of 11.75% and a return on equity of 24.71%. The firm had revenue of $151.55 million for the quarter, compared to the consensus estimate of $148.63 million. On average, sell-side analysts anticipate that CarGurus, Inc. will post 0.65 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC acquired a new position in shares of CarGurus in the 4th quarter valued at $815,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of CarGurus by 5.8% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 133,027 shares of the company’s stock valued at $4,221,000 after buying an additional 7,246 shares in the last quarter. Eaton Vance Management raised its stake in shares of CarGurus by 1,081.9% in the 4th quarter. Eaton Vance Management now owns 893,574 shares of the company’s stock valued at $28,353,000 after buying an additional 817,968 shares in the last quarter. Norges Bank acquired a new position in shares of CarGurus in the 4th quarter valued at $63,430,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of CarGurus by 2.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 79,086 shares of the company’s stock valued at $2,509,000 after buying an additional 2,206 shares in the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

A number of analysts have commented on the stock. Benchmark boosted their price target on shares of CarGurus from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. DA Davidson downgraded shares of CarGurus from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $33.00 in a report on Friday, February 12th. Raymond James upgraded shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Wednesday, April 14th. Jefferies Financial Group dropped their target price on shares of CarGurus from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, March 24th. Finally, Zacks Investment Research downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a report on Wednesday, April 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. CarGurus currently has an average rating of “Hold” and a consensus target price of $31.92.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. 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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