CarGurus Inc (NASDAQ:CARG) CEO Sells $653,339.31 in Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 24,011 shares of the stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $27.21, for a total value of $653,339.31. Following the sale, the chief executive officer now owns 1,100,778 shares of the company’s stock, valued at $29,952,169.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Wednesday, June 17th, Langley Steinert sold 51,970 shares of CarGurus stock. The shares were sold at an average price of $26.42, for a total value of $1,373,047.40.
  • On Monday, June 15th, Langley Steinert sold 51,970 shares of CarGurus stock. The stock was sold at an average price of $25.42, for a total value of $1,321,077.40.
  • On Thursday, June 11th, Langley Steinert sold 46,904 shares of CarGurus stock. The shares were sold at an average price of $24.80, for a total transaction of $1,163,219.20.
  • On Tuesday, June 9th, Langley Steinert sold 51,970 shares of CarGurus stock. The stock was sold at an average price of $27.05, for a total transaction of $1,405,788.50.
  • On Thursday, June 4th, Langley Steinert sold 24,011 shares of CarGurus stock. The shares were sold at an average price of $27.69, for a total transaction of $664,864.59.
  • On Monday, June 1st, Langley Steinert sold 24,011 shares of CarGurus stock. The shares were sold at an average price of $26.93, for a total transaction of $646,616.23.
  • On Thursday, May 28th, Langley Steinert sold 24,011 shares of CarGurus stock. The stock was sold at an average price of $26.42, for a total transaction of $634,370.62.
  • On Tuesday, May 26th, Langley Steinert sold 24,011 shares of CarGurus stock. The shares were sold at an average price of $25.98, for a total value of $623,805.78.
  • On Friday, May 22nd, Langley Steinert sold 12,006 shares of CarGurus stock. The stock was sold at an average price of $24.75, for a total value of $297,148.50.
  • On Wednesday, May 20th, Langley Steinert sold 12,283 shares of CarGurus stock. The stock was sold at an average price of $24.70, for a total value of $303,390.10.

Shares of NASDAQ:CARG opened at $27.66 on Thursday. The firm has a market capitalization of $3.12 billion, a PE ratio of 74.76, a P/E/G ratio of 25.61 and a beta of 2.03. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $25.52 and a two-hundred day moving average price of $27.53. CarGurus Inc has a twelve month low of $14.25 and a twelve month high of $40.91.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.12. The firm had revenue of $157.70 million during the quarter, compared to analyst estimates of $150.06 million. CarGurus had a return on equity of 16.97% and a net margin of 6.91%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. Analysts anticipate that CarGurus Inc will post 0.03 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its position in CarGurus by 12.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 12,592 shares of the company’s stock valued at $238,000 after purchasing an additional 1,409 shares in the last quarter. Morgan Stanley raised its position in CarGurus by 181.2% in the 1st quarter. Morgan Stanley now owns 1,125,727 shares of the company’s stock worth $21,322,000 after purchasing an additional 725,384 shares during the period. The Manufacturers Life Insurance Company lifted its stake in CarGurus by 1.1% in the first quarter. The Manufacturers Life Insurance Company now owns 7,235,895 shares of the company’s stock worth $137,048,000 after purchasing an additional 78,344 shares during the last quarter. Twinbeech Capital LP purchased a new stake in CarGurus during the first quarter valued at about $554,000. Finally, Capital World Investors grew its stake in shares of CarGurus by 126.5% during the first quarter. Capital World Investors now owns 1,177,827 shares of the company’s stock valued at $22,308,000 after buying an additional 657,827 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.

CARG has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of CarGurus from $22.00 to $25.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. DA Davidson reiterated a “buy” rating and set a $31.00 price target on shares of CarGurus in a research note on Monday, June 1st. TheStreet lowered CarGurus from a “c-” rating to a “d+” rating in a report on Monday, March 2nd. Zacks Investment Research upgraded CarGurus from a “sell” rating to a “hold” rating in a report on Tuesday, March 24th. Finally, Benchmark decreased their price target on CarGurus from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, May 8th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. CarGurus currently has a consensus rating of “Buy” and a consensus price target of $30.56.

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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