Langley Steinert Sells 27,988 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) Chairman Langley Steinert sold 27,988 shares of the company’s stock in a transaction on Monday, October 11th. The stock was sold at an average price of $34.01, for a total transaction of $951,871.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Friday, October 8th, Langley Steinert sold 30,508 shares of CarGurus stock. The stock was sold at an average price of $34.77, for a total transaction of $1,060,763.16.
  • On Wednesday, October 6th, Langley Steinert sold 27,988 shares of CarGurus stock. The stock was sold at an average price of $31.84, for a total transaction of $891,137.92.
  • On Monday, October 4th, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $31.16, for a total transaction of $872,106.08.
  • On Friday, October 1st, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $32.52, for a total transaction of $910,169.76.
  • On Wednesday, September 22nd, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $31.39, for a total transaction of $878,543.32.
  • On Monday, September 20th, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $31.15, for a total transaction of $871,826.20.
  • On Thursday, September 16th, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $31.83, for a total transaction of $890,858.04.
  • On Tuesday, September 14th, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $31.32, for a total transaction of $876,584.16.
  • On Monday, August 30th, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $31.17, for a total transaction of $872,385.96.
  • On Friday, August 27th, Langley Steinert sold 27,988 shares of CarGurus stock. The shares were sold at an average price of $30.47, for a total transaction of $852,794.36.

Shares of CARG stock opened at $34.49 on Thursday. The company 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 company’s 50-day simple moving average is $30.72 and its two-hundred day simple moving average is $27.84. CarGurus, Inc. has a one year low of $19.24 and a one year high of $36.54.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 5th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.15. The business had revenue of $217.75 million for the quarter, compared to the consensus estimate of $190.00 million. CarGurus had a net margin of 15.72% and a return on equity of 27.87%. As a group, analysts expect that CarGurus, Inc. will post 0.74 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARG. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the first quarter valued at approximately $25,000. IFP Advisors Inc bought a new position in shares of CarGurus during the third quarter valued at approximately $30,000. Advisory Services Network LLC bought a new position in shares of CarGurus during the second quarter valued at approximately $75,000. Advisor Group Holdings Inc. boosted its stake in shares of CarGurus by 142.3% during the second quarter. Advisor Group Holdings Inc. now owns 2,891 shares of the company’s stock valued at $76,000 after purchasing an additional 1,698 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of CarGurus by 16.5% during the first quarter. Lazard Asset Management LLC now owns 3,825 shares of the company’s stock valued at $91,000 after purchasing an additional 541 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.

CARG has been the topic of several recent research reports. Royal Bank of Canada upgraded shares of CarGurus from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $40.00 in a research report on Thursday, August 26th. Zacks Investment Research raised shares of CarGurus from a “sell” rating to a “hold” rating in a research report on Friday, July 16th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of CarGurus in a research report on Thursday, August 26th. Raymond James increased their price objective on shares of CarGurus from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. Finally, TheStreet raised shares of CarGurus from a “c+” rating to a “b-” rating in a research report on Monday, August 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CarGurus currently has an average 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: What is Considered a Good Return on Equity (ROE)?

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.