CarGurus, Inc. (NASDAQ:CARG – Get Free Report) insider Ismail Elshareef sold 1,964 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $32.33, for a total transaction of $63,496.12. Following the completion of the transaction, the insider directly owned 123,670 shares of the company’s stock, valued at $3,998,251.10. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ismail Elshareef also recently made the following trade(s):
- On Friday, October 2nd, Ismail Elshareef sold 2,673 shares of CarGurus stock. The stock was sold at an average price of $29.62, for a total transaction of $79,174.26.
CarGurus Stock Up 8.1%
Shares of NASDAQ:CARG opened at $36.52 on Thursday. The company’s fifty day moving average is $32.22 and its two-hundred day moving average is $32.84. CarGurus, Inc. has a 12-month low of $26.39 and a 12-month high of $41.22. The company has a market cap of $3.25 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 1.20 and a beta of 1.22.
CarGurus (NASDAQ:CARG – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $250.97 million during the quarter, compared to analyst estimates of $249.85 million. CarGurus had a return on equity of 62.88% and a net margin of 18.06%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. Equities research analysts anticipate that CarGurus, Inc. will post 2.17 earnings per share for the current year.
Hedge Funds Weigh In On CarGurus
Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in CarGurus by 20.2% in the third quarter. Versant Capital Management Inc now owns 2,325 shares of the company’s stock valued at $72,000 after purchasing an additional 391 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in CarGurus by 1.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,318 shares of the company’s stock worth $829,000 after purchasing an additional 459 shares during the last quarter. Ethic Inc. increased its position in CarGurus by 4.5% in the 3rd quarter. Ethic Inc. now owns 10,762 shares of the company’s stock worth $335,000 after purchasing an additional 467 shares during the last quarter. Choreo LLC raised its stake in shares of CarGurus by 3.4% during the 3rd quarter. Choreo LLC now owns 17,688 shares of the company’s stock worth $551,000 after purchasing an additional 576 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of CarGurus by 12.9% during the 3rd quarter. GAMMA Investing LLC now owns 5,108 shares of the company’s stock worth $159,000 after purchasing an additional 585 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CARG has been the topic of several recent analyst reports. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Oppenheimer raised their price objective on CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. UBS Group lowered their target price on CarGurus from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. BTIG Research upped their target price on CarGurus from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, B. Riley Financial reissued a “buy” rating on shares of CarGurus in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.95.
Check Out Our Latest Stock Analysis on CARG
CarGurus Company Profile
CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate vehicle and dealer information, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital listing, advertising and marketing products designed to help them reach potential buyers.
The company also offers tools intended to support automotive retailers’ online operations, including inventory merchandising, lead generation and digital retailing capabilities.
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