CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales Sells 17,668 Shares

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 17,668 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total value of $378,448.56. Following the sale, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $11,756,259.90. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Samuel Zales also recently made the following trade(s):

• On Monday, March 18th, Samuel Zales sold 17,668 shares of CarGurus stock. The shares were sold at an average price of $22.56, for a total value of $398,590.08.
• On Thursday, February 29th, Samuel Zales sold 17,668 shares of CarGurus stock. The shares were sold at an average price of $22.22, for a total value of $392,582.96.

CarGurus Price Performance

CARG opened at $21.22 on Thursday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 117.89, a PEG ratio of 1.32 and a beta of 1.58. CarGurus, Inc. has a 1 year low of $15.34 and a 1 year high of $24.64. The stock’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $21.74.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The business’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. As a group, sell-side analysts anticipate that CarGurus, Inc. will post 0.94 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group raised their price target on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Oppenheimer raised their price target on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Needham & Company LLC increased their price objective on CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, JMP Securities reiterated a “market perform” rating on shares of CarGurus in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Scharf Investments LLC purchased a new position in shares of CarGurus in the 1st quarter valued at approximately $203,000. Nomura Holdings Inc. purchased a new position in shares of CarGurus in the 4th quarter valued at approximately $412,000. PNC Financial Services Group Inc. lifted its stake in shares of CarGurus by 87.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock valued at $133,000 after purchasing an additional 2,568 shares during the period. Wellington Management Group LLP raised its stake in CarGurus by 39.6% during the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock valued at $137,856,000 after buying an additional 1,619,076 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in CarGurus by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,793 shares of the company’s stock valued at $1,300,000 after buying an additional 2,089 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

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.