Insider Selling: CarGurus, Inc. (NASDAQ:CARG) General Counsel Sells 3,503 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) General Counsel Kathleen Bender Patton sold 3,503 shares of the stock in a transaction dated Friday, October 8th. The shares were sold at an average price of $35.11, for a total transaction of $122,990.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kathleen Bender Patton also recently made the following trade(s):

  • On Friday, August 6th, Kathleen Bender Patton sold 9,597 shares of CarGurus stock. The shares were sold at an average price of $31.13, for a total transaction of $298,754.61.

CarGurus stock opened at $34.49 on Thursday. CarGurus, Inc. has a 12-month low of $19.24 and a 12-month high of $36.54. The stock has a market capitalization of $4.05 billion, a P/E ratio of 37.09, a P/E/G ratio of 7.83 and a beta of 1.83. The firm’s 50-day moving average is $30.72 and its two-hundred day moving average is $27.84.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.15. CarGurus had a net margin of 15.72% and a return on equity of 27.87%. The company had revenue of $217.75 million for the quarter, compared to analysts’ expectations of $190.00 million. On average, equities research analysts predict that CarGurus, Inc. will post 0.74 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of CarGurus by 9.0% in the first quarter. Geode Capital Management LLC now owns 1,479,484 shares of the company’s stock worth $35,256,000 after acquiring an additional 121,772 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of CarGurus by 29.0% in the first quarter. Cubist Systematic Strategies LLC now owns 164,891 shares of the company’s stock worth $3,929,000 after acquiring an additional 37,085 shares during the last quarter. Rathbone Brothers plc acquired a new stake in shares of CarGurus in the second quarter worth approximately $210,000. New York State Common Retirement Fund boosted its position in shares of CarGurus by 1.0% in the second quarter. New York State Common Retirement Fund now owns 79,956 shares of the company’s stock worth $2,097,000 after acquiring an additional 756 shares during the last quarter. Finally, Makena Capital Management LLC acquired a new stake in shares of CarGurus in the first quarter worth approximately $5,986,000. 78.49% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on CARG shares. Zacks Investment Research upgraded shares of CarGurus from a “sell” rating to a “hold” rating in a report on Friday, July 16th. Royal Bank of Canada raised shares of CarGurus from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $40.00 in a research note on Thursday, August 26th. TheStreet raised shares of CarGurus from a “c+” rating to a “b-” rating in a research note on Monday, August 30th. Raymond James increased their price objective on shares of CarGurus from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of CarGurus in a research note on Thursday, August 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Buy” and an average target price of $36.56.

About CarGurus

Cargurus, Inc engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States.

Further Reading: Penny Stocks, What You Need To Know

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

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.