CarGurus Inc (CARG) CEO Langley Steinert Sells 117,406 Shares

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $37.50, for a total value of $4,402,725.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

  • On Friday, November 9th, Langley Steinert sold 71,753 shares of CarGurus stock. The stock was sold at an average price of $43.39, for a total value of $3,113,362.67.
  • On Wednesday, November 7th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $41.55, for a total value of $4,878,219.30.
  • On Monday, November 5th, Langley Steinert sold 176,109 shares of CarGurus stock. The stock was sold at an average price of $44.10, for a total value of $7,766,406.90.
  • On Tuesday, October 9th, Langley Steinert sold 130,456 shares of CarGurus stock. The stock was sold at an average price of $48.43, for a total value of $6,317,984.08.
  • On Thursday, October 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $51.41, for a total value of $6,035,842.46.
  • On Tuesday, October 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $53.19, for a total value of $6,244,825.14.
  • On Tuesday, September 11th, Langley Steinert sold 176,109 shares of CarGurus stock. The stock was sold at an average price of $49.30, for a total value of $8,682,173.70.

CARG traded up $1.35 during midday trading on Thursday, hitting $37.41. The company’s stock had a trading volume of 938,727 shares, compared to its average volume of 738,038. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 311.75, a price-to-earnings-growth ratio of 55.48 and a beta of 1.83. CarGurus Inc has a 52-week low of $28.52 and a 52-week high of $57.25.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $119.04 million during the quarter, compared to analysts’ expectations of $112.70 million. CarGurus had a return on equity of 9.82% and a net margin of 11.78%. The firm’s revenue was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. Equities research analysts predict that CarGurus Inc will post 0.13 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in CarGurus by 10.4% in the 3rd quarter. FMR LLC now owns 11,022,430 shares of the company’s stock valued at $613,838,000 after buying an additional 1,040,330 shares during the period. Vanguard Group Inc. grew its holdings in shares of CarGurus by 20.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,512,695 shares of the company’s stock worth $251,312,000 after purchasing an additional 759,094 shares during the period. Hound Partners LLC purchased a new stake in shares of CarGurus during the 3rd quarter worth about $190,790,000. BlackRock Inc. grew its holdings in shares of CarGurus by 19.6% during the 3rd quarter. BlackRock Inc. now owns 3,138,323 shares of the company’s stock worth $174,772,000 after purchasing an additional 513,304 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of CarGurus by 877.9% during the 2nd quarter. Bank of America Corp DE now owns 681,579 shares of the company’s stock worth $23,678,000 after purchasing an additional 611,878 shares during the period. Institutional investors own 68.67% of the company’s stock.

A number of analysts recently commented on the company. SunTrust Banks assumed coverage on CarGurus in a research report on Monday, November 19th. They set a “buy” rating and a $49.00 price objective for the company. Zacks Investment Research upgraded CarGurus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, November 14th. BTIG Research started coverage on CarGurus in a report on Tuesday, November 13th. They issued a “buy” rating and a $48.00 price target for the company. Royal Bank of Canada lifted their price target on CarGurus from $55.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, November 8th. Finally, BidaskClub cut CarGurus from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $51.57.

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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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Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

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