Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CTO Sells 3,495 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the completion of the sale, the chief technology officer now owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

CarGurus Price Performance

Shares of NASDAQ:CARG traded down $0.24 during mid-day trading on Thursday, reaching $29.05. 380,697 shares of the company were exchanged, compared to its average volume of 868,092. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 104.61, a P/E/G ratio of 1.45 and a beta of 1.56. The firm’s 50-day simple moving average is $27.60 and its 200 day simple moving average is $25.30. CarGurus, Inc. has a 1 year low of $16.70 and a 1 year high of $30.99.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The firm had revenue of $218.69 million during the quarter, compared to analysts’ expectations of $214.85 million. On average, research analysts forecast that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after purchasing an additional 485 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CarGurus by 25.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after purchasing an additional 425 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of CarGurus in the 1st quarter valued at $49,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of CarGurus in the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CARG shares. BTIG Research increased their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price objective on shares of CarGurus in a report on Monday, September 9th. DA Davidson restated a “neutral” rating and set a $26.50 price target on shares of CarGurus in a report on Tuesday, September 10th. Needham & Company LLC raised their price target on shares of CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, B. Riley raised their price target on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $29.35.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.