CarGurus (NASDAQ:CARG) Director Ian G. Smith sold 5,300 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $32.38, for a total value of $171,614.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
NASDAQ:CARG opened at $32.98 on Friday. CarGurus has a 1-year low of $25.85 and a 1-year high of $40.60.
CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $87.71 million for the quarter, compared to analyst estimates of $86.22 million. The firm’s quarterly revenue was up 197.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. sell-side analysts anticipate that CarGurus will post 0.1 earnings per share for the current year.
Several brokerages have recently commented on CARG. BidaskClub downgraded CarGurus from a “buy” rating to a “hold” rating in a report on Saturday, April 14th. DA Davidson began coverage on CarGurus in a report on Wednesday, April 4th. They set a “neutral” rating and a $41.00 target price for the company. Benchmark began coverage on CarGurus in a report on Thursday, March 22nd. They set a “buy” rating and a $42.00 target price for the company. Finally, Zacks Investment Research downgraded CarGurus from a “hold” rating to a “sell” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. CarGurus presently has an average rating of “Hold” and a consensus target price of $35.20.
Large investors have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC acquired a new position in CarGurus during the fourth quarter valued at $210,000. Arrowstreet Capital Limited Partnership acquired a new position in CarGurus during the fourth quarter valued at $271,000. Franklin Resources Inc. acquired a new position in CarGurus during the fourth quarter valued at $726,000. Two Sigma Investments LP acquired a new position in CarGurus during the fourth quarter valued at $1,024,000. Finally, Macquarie Group Ltd. acquired a new position in CarGurus during the fourth quarter valued at $1,137,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.
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CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.
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