Langley Steinert Sells 176,109 Shares of CarGurus Inc (CARG) Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 176,109 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $44.10, for a total transaction of $7,766,406.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Tuesday, October 9th, Langley Steinert sold 130,456 shares of CarGurus stock. The shares were sold at an average price of $48.43, for a total transaction of $6,317,984.08.
  • On Thursday, October 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $51.41, for a total transaction of $6,035,842.46.
  • On Tuesday, October 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $53.19, for a total transaction of $6,244,825.14.
  • On Tuesday, September 11th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $49.30, for a total transaction of $8,682,173.70.
  • On Thursday, September 6th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $48.16, for a total transaction of $8,481,409.44.
  • On Thursday, August 9th, Langley Steinert sold 71,753 shares of CarGurus stock. The shares were sold at an average price of $54.03, for a total transaction of $3,876,814.59.
  • On Tuesday, August 7th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $44.82, for a total transaction of $7,893,205.38.

Shares of CarGurus stock opened at $42.25 on Wednesday. The stock has a market cap of $4.92 billion and a P/E ratio of 352.08. CarGurus Inc has a 12-month low of $28.00 and a 12-month high of $57.25.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $103.84 million. CarGurus had a net margin of 10.34% and a return on equity of 12.60%. Analysts expect that CarGurus Inc will post 0.1 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of CARG. Wells Fargo & Company MN acquired a new stake in CarGurus in the 1st quarter valued at about $2,629,000. Northern Trust Corp boosted its stake in CarGurus by 12.8% during the 1st quarter. Northern Trust Corp now owns 20,129 shares of the company’s stock worth $775,000 after acquiring an additional 2,292 shares during the last quarter. Millennium Management LLC bought a new position in CarGurus during the 1st quarter worth approximately $499,000. Amalgamated Bank bought a new position in CarGurus during the 2nd quarter worth approximately $261,000. Finally, Acadian Asset Management LLC boosted its stake in CarGurus by 5,772.9% during the 2nd quarter. Acadian Asset Management LLC now owns 13,449 shares of the company’s stock worth $467,000 after acquiring an additional 13,220 shares during the last quarter. Hedge funds and other institutional investors own 63.35% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Benchmark increased their target price on shares of CarGurus from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. BidaskClub cut shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Thursday, August 2nd. ValuEngine cut shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Finally, DA Davidson set a $53.00 target price on shares of CarGurus and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. CarGurus currently has an average rating of “Buy” and a consensus target price of $48.00.

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CarGurus Company Profile

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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