CarGurus (NASDAQ:CARG) Shares Down 4.6% Following Insider Selling

CarGurus, Inc. (NASDAQ:CARG) shares dropped 4.6% during trading on Wednesday following insider selling activity. The company traded as low as $24.16 and last traded at $24.33. Approximately 1,339,342 shares were traded during trading, an increase of 42% from the average daily volume of 943,658 shares. The stock had previously closed at $25.49.

Specifically, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $11,756,259.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Javier Esquivel Zamora sold 6,680 shares of CarGurus stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $25.00, for a total value of $167,000.00. Following the sale, the general counsel now directly owns 102,130 shares in the company, valued at approximately $2,553,250. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares of the company’s stock, valued at approximately $11,756,259.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,994 shares of company stock worth $1,831,470. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of several research reports. DA Davidson upped their price objective on shares of CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, May 13th. JMP Securities raised shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Friday, June 7th. UBS Group lifted their price objective on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Royal Bank of Canada increased their target price on CarGurus from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Finally, Needham & Company LLC lifted their price target on CarGurus from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

CarGurus Stock Performance

The stock has a 50-day moving average of $24.34 and a two-hundred day moving average of $23.57. The company has a market cap of $2.58 billion, a P/E ratio of 86.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.57.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $215.80 million during the quarter, compared to the consensus estimate of $217.29 million. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. Research analysts predict that CarGurus, Inc. will post 0.98 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CARG. GAMMA Investing LLC purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $32,000. Headlands Technologies LLC bought a new stake in shares of CarGurus in the 1st quarter worth $49,000. Daiwa Securities Group Inc. purchased a new position in shares of CarGurus in the fourth quarter worth $65,000. EntryPoint Capital LLC raised its stake in shares of CarGurus by 358.2% in the first quarter. EntryPoint Capital LLC now owns 4,596 shares of the company’s stock worth $106,000 after purchasing an additional 3,593 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of CarGurus by 87.0% during the fourth 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 in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.