Insider Selling: CarGurus Inc (NASDAQ:CARG) CEO Sells 117,406 Shares of Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 117,406 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $33.68, for a total value of $3,954,234.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, June 10th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $35.18, for a total value of $4,130,343.08.
  • On Thursday, June 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $34.27, for a total value of $4,023,503.62.
  • On Wednesday, May 8th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $40.06, for a total value of $4,703,284.36.
  • On Monday, May 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $40.59, for a total value of $4,765,509.54.
  • On Thursday, May 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $39.88, for a total value of $4,682,151.28.
  • On Monday, April 8th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $40.66, for a total value of $4,773,727.96.
  • On Thursday, April 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $41.14, for a total value of $4,830,082.84.
  • On Tuesday, April 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $40.10, for a total value of $4,707,980.60.
  • On Monday, March 11th, Langley Steinert sold 130,456 shares of CarGurus stock. The shares were sold at an average price of $39.05, for a total value of $5,094,306.80.

NASDAQ:CARG traded up $0.82 during mid-day trading on Friday, reaching $36.11. The company’s stock had a trading volume of 929,820 shares, compared to its average volume of 885,539. The stock’s fifty day moving average price is $36.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.74 and a current ratio of 2.74. CarGurus Inc has a twelve month low of $30.29 and a twelve month high of $57.25. The company has a market cap of $4.00 billion, a PE ratio of 63.35, a P/E/G ratio of 3.91 and a beta of 1.95.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. CarGurus had a return on equity of 18.43% and a net margin of 13.94%. The firm had revenue of $135.30 million for the quarter, compared to analyst estimates of $129.54 million. During the same period last year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. On average, equities analysts predict that CarGurus Inc will post 0.23 earnings per share for the current fiscal year.

A number of research firms recently commented on CARG. Zacks Investment Research raised CarGurus from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Wednesday, March 20th. DA Davidson set a $54.00 price objective on CarGurus and gave the company a “buy” rating in a research note on Tuesday, March 26th. BidaskClub raised CarGurus from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Benchmark reaffirmed a “buy” rating and set a $51.00 price objective on shares of CarGurus in a research note on Friday, May 10th. Finally, Goldman Sachs Group raised CarGurus from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $48.00 in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. CarGurus currently has an average rating of “Buy” and a consensus price target of $49.25.

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in CarGurus by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 152,439 shares of the company’s stock worth $8,489,000 after buying an additional 12,174 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CarGurus by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 824,067 shares of the company’s stock valued at $27,795,000 after purchasing an additional 98,854 shares in the last quarter. 361 Capital LLC acquired a new position in shares of CarGurus in the 4th quarter valued at about $2,336,000. Strs Ohio lifted its stake in shares of CarGurus by 23.8% in the 4th quarter. Strs Ohio now owns 28,600 shares of the company’s stock valued at $964,000 after purchasing an additional 5,500 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of CarGurus by 4.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock valued at $300,238,000 after purchasing an additional 295,775 shares in the last quarter. 74.79% of the stock is currently owned by hedge funds and other institutional investors.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. 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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Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

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